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India Inc Welcomes Government Corporate Tax Announcements

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“Excellent steps announced By FM today, expect them to stimulate the economy and to attract investments into the manufacturing sector going forward from now. This now gives elbow room to companies to reduce prices and increase demand for their products.”

Rajnish Kumar, Chairman, State Bank of India

“The large reduction in corporate taxes across the spectrum of all companies is perhaps the boldest reform in the last 28 years! Such a rate cut will boost corporate bottomline, facilitate a reduction in product prices. Additionally, the move to incentivise setting up new manufacturing units in India comes at the most opportune time for foreign companies who could be actively looking for opportunities to invest globally! This move could also materially lead to India effectively integrating with the global supply chain and a boost to Make in India campaign.” Read More..