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Tax exemptions and incentives for the corporate sector continue despite reduction in Corporate Tax Rates

Quite often it is argued by mainstream economists that a sizeable chunk of the Union Budget every year is wasted because the Government spends that on food and fertiliser subsidies. The burgeoning size of these two subsidies relative to the entire budget as well as the gross domestic product (GDP) is often used to build the argument that economic as well as environmental sustainability of the country is at stake...

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The minimum wage solution -Rajendran Narayanan & Sakina Dhorajiwala

-The Hindu While indexation of the NREGA wages is critical, lifting them to the minimum wage would help workers and the economy The government made two recent announcements at two ends of the spectrum to mitigate the economic crisis. One concerns a new indexation of NREGA wages meant to increase rural incomes. The second is a reduction in Corporate Tax Rate. Prices of commodities increase each year, so it’s important to accurately estimate...

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Lowering Corporate Tax Rate is good but not enough -Renu Kohli

-The Telegraph While the corporate tax cuts are a long-term positive, this does not dismiss the case for near-term consumption support The government relented on fiscal discipline to steeply reduce corporate taxes on September 20; the lowest is now 17 per cent for new manufacturing units. The stock market soared, seeing earnings grow after successive downgrades for nearly nine years — about the same time as the investment shortfall that lower taxes...

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Modi govt gives Rs.1.45 lakh crore gift to corporates -Subodh Varma

-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...

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