Key Points
New Delhi: Finance minister Nirmala Sitharaman said Friday the corporate tax rate cut in 2019 has resulted in an uptick in private investments and also spurred credit growth, and stressed the need for capacity expansion in areas with high employment potential...
The government had in September 2019 announced a cut in the base corporate tax for then existing companies to 22% from 30%..
For new manufacturing firms, incorporated after October 1, 2019, the rate was as low as 15%..
Delivering the Pandit Hriday Nath Kunzru Memorial Lectures in Jawaharlal Nehru University here, she said India is currently negotiating free trade agreements (FTAs) "from the position of strength"..
Separately, in a written message on the occasion of the 48th Civil Accounts Day, Sitharaman said direct benefit transfers of 34 lakh crore have been facilitated by Public Financial Management System..
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