Prime Minister Narendra Modi hailed the decision to cut corporate tax as historic. He has said that this will give a big boost to the government's Make In India initiative. He has said that this will help attract private investment from all over the world. Prime Minister Modi said that this will create more jobs. He said that it would prove beneficial for 130 crore Indians in every way.
The Prime Minister tweeted that every announcement made in the last few weeks clearly shows that the government is making India a better place in terms of business, increasing opportunities for every section of society and making India a $ 5 trillion economy. Is making every effort for
Finance Minister Nirmala Sitharaman today announced a reduction in corporate tax before the GST Council meeting. He said that companies not availing the benefit of exemption will have to pay tax at the rate of 22 percent. According to the Finance Minister, domestic companies will no longer have to pay any minimum internet tax. At the same time, the corporate tax rate for new companies has been reduced to 15 percent.
Union Minister Piyush Goyal has also praised the decision. He said that this would give a boost to the economy. He has described today's decision as the biggest decision taken by the government so far.
RBI Governor Shaktikanta Das termed the decision to reduce corporate tax as a very positive step for the Indian economy.
