Economy News

Big-bang India Inc.entive: Historic step, will attract global pvt investment, says PM

The government further announced a rollback back of the higher surcharge on capital gains on sale of equity shares announced in this Budget for individuals, HUFs, Association of Persons (trusts).

Many big firms, IT companies may not benefit much from corporate tax cut

Finance Minister Nirmala Sitharaman Friday announced a new corporate tax rate of 22 per cent without exemptions and said the effective tax rate including surcharge and cess would now stand at 25.17 per cent.

GST rates on hotel tariff cut, pay more now for caffeinated beverages

These measures, estimated to result in a revenue loss of around Rs 1,500 crore a year, are expected to give a boost to the tourism and hospitality sectors ahead of the festive season. The decisions were taken at the Council’s 37th meeting.

Make sure tax reduction brings in investment: Prasad to his ministries

With an aim to revive investments, particularly in the manufacturing sector, Minister of Finance Nirmala Sitharaman Friday announced reduction of effective corporate tax rate to 25.17 per cent.

Lower taxes likely to revive investment, but govt may find managing fiscal deficit tougher

When asked about the impact of the measures on the fiscal deficit, Finance Minister Nirmala Sitharaman said the government is conscious of the impact and expects the economic buoyancy resulting from these changes to generate significant resources.

GST Council slashes rates on hotel tariffs, grinders; hikes tax on caffeinated beverages

Apart from these, the government has also cut GST rates on slide fasteners, wet grinders, and marine fuel by a large margin.

Bold decision: RBI Governor welcomes Centre’s proposal to slash corporate tax for domestic firms

"This is a bold and welcome decision. During Arun Jaitley's tenure as FM, the corporate tax was reduced from 30 to 25 per cent. This was one of the hurdles, and the measures will help revive the economy," the RBI Governor said.

Corporate tax rate slashed for domestic companies: FM Nirmala Sitharaman

"Tax concessions will bring investments in Make in India, boost employment and economic activity, leading to more revenue," said Finance Minister Nirmala Sitharaman.

Nirmala Sitharaman announces cut in corporate tax: All you need to know

To stabilise the flow of funds into the market, the enhanced surcharge announced in Budget 2019 will not apply on capital gains arising on sale of any security, including derivatives by foreign portfolio investors, the Centre announced.

Sensex zooms over 2,000 points after govt slashes corporate tax rate

Domestic equity benchmark BSE Sensex which opened to a rebound of 100 points, zoomed following Sitharaman's announcements whereas, Nifty rallied 562 points to 11,267.70.

Growth in Q2 will increase due to govt spending: Shaktikanta Das

Shaktikanta Das said the central bank had sensed a slowdown in the economy in February and that the situation is the same in “almost all advanced economies”. "RBI had noticed the signs of a slowdown as early as February this year," he said.

NBFC crisis: Banks may have to take larger haircut

The RBI Governor said that the central bank will step in to take action on the NBFC problem only when it is required to.