India In Focus - INDIAN ECONOMY: OVERVIEW, GROWTH and DEVELOPMENT - RBI governor Shaktikanta Das' first reaction to corporate tax cut.
Reserve Bank of India Governor Shaktikanta Das gave his first reaction to the corporate tax rate cut at the India Conclave in Mumbai on Friday. "This is a bold and welcome decision... it will augur very well for our economy," Das said at the event. Das was speaking at the India Conclave when Finance Minister Nirmala Sitharaman made the announcement in Goa ahead of the GST Council meet. The government has cut corporate tax from 30 percent to 22 percent. In his first reaction, Das said: "This (corporate tax) was one of the hurdles, and the measures will help revive the economy", adding the new tax rates would bring India closer to "tax rates in this part of the world".
On a series of key lending rate cuts since he took power, the RBI Governor said the law of the land mandated the RBI to ensure price stability. "But how much lower we can go down depends upon the data we gather on the economy. India can't be...
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