-The Indian Express To avoid a substantial fiscal slippage at the state government level, a sizeable expenditure reduction or deferral is likely to be required, given that the borrowing limit set by the central government acts as a soft constraint to the size of the states’ fiscal deficits. There are growing concerns that the two major sources of tax revenues for state governments, the state goods and services tax (SGST) and...

-The Telegraph A low tax regime is not enough; investors need to see demonstrable action to ease the pangs of doing business in India A wave of euphoria has swept through industry and stock markets since the finance minister, Nirmala Sitharaman, announced a sharp cut in Corporate Tax to an effective rate of 25.17 per cent. The effective tax rate will now go down sharply from a high of 34.94 per cent,...

-The Hindu Putting more money in the hands of rural households will stir up the economy The government’s statistical machinery has begun work on revising the indices that capture the trends in consumer prices experienced in rural India. This opens up the prospect for an upward revision in the wages paid out to workers under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA). The current national average wage is just about...

-Newsclick.in This bounty for corporate houses comes at a time when common people are reeling under a slowdown, joblessness is at record levels and incomes are stagnating. Continuing her series of press conferences, that are becoming like a treasure hunt for corporates, finance minister Nirmala Sitharaman announced today that Corporate Tax rates will be slashed from the current 30% (average) to 25.17% including all cess/surcharge. Actually, if no other concession is availed...

-The Indian Express A cut in personal income tax or GST slabs would have spurred the economy more in the short term but the Corporate Tax cut is beneficial for the economy in the long term. Finance Minister Nirmala Sitharaman’s announcement to cut Corporate Tax rates on Friday morning was a welcome surprise for the Indian economy that has been struggling with growth deceleration. According to reports, the government has cut the...