-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...
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Explained: How the latest corporate tax rate cut impacts the economy -Udit Misra
-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...
More »Prabhat Patnaik, an economist and former economics professor at the Jawaharlal Nehru University, interviewed by Kaushal Shroff (The Caravan)
-CaravanMagazine.in In the budget unveiled in July, the finance minister Nirmala Sitharaman ambitiously claimed that India’s economy would hit $5 trillion by 2025. In the weeks that followed, the Central Statistics Office revealed that the gross domestic product growth rate for the April–June quarter fell to a six-year low of five percent; the Reserve Bank of India cleared a surplus transfer of Rs 1.76 lakh crore to the union government; and...
More »Buying homes to get cheaper for govt employees as FM reduces interest on house-building advance
-News18.com House-building advance is available to central and state government employees for constructing a new house on a plot owned by the employee or jointly with the spouse. The scheme can also be availed while buying a new house or flat. New Delhi: In a bid to boost the housing sector, Finance Minister Nirmala Sitharaman on Saturday announced reduction in interest rates on house-building advance and linking to 10-year government securities yields. The...
More »Dr. Manmohan Singh, former Prime Minister of India, interviewed by Richa Mishra (The Hindu Business Line)
-The Hindu Business Line The government must simplify and rationalise GST, kickstart rural consumption, revive agriculture and tackle the lack of credit for capital creation, says former PM Former Prime Minister Manmohan Singh, an eminent economist himself, feels that the Narendra Modi-led government needs to come out of its habit of headline management and address the economic challenges which the country is facing today. “We cannot afford to deny that India is facing...
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