Corporate tax cut will make India a global manufacturing hub: FM

05 Dec 2019 News : Corporate tax cut will make India a global manufacturing hub: FM https://lnkd.in/fCJQZ8z ================ Extract : > Finance Minister Nirmala Sitharaman has asserted that the corporate tax cut bonanza, which would result in revenue foregone of ₹1.45 lakh crore, would help India become a “manufacturing hub” as it would boost new investments into the manufacturing sector. > At this stage, the impact, although positive, is only anecdotal and will take some time before complete conclusions could be drawn on the move, Sitharaman added. > The whole objective of reducing corporate tax was to drive and attract manufacturing investments from all over the world. This had prompted us to introduce a special rate of 15 per cent for new investments from new companies that go into operation between October 2019 to 2023,” she said. ================================ No doubt, a very welcome move . But, by itself, its impact will be small, since many other countries too, are lowering corporate taxes What will make real difference ? Read : Foundation of Economy https://lnkd.in/fEZbr8f