(PTI): Reserve Bank Governor Shaktikanta Das on Friday said the reduction in corporate tax was a bold measure which would be highly positive for the economy.
In a major fiscal booster, Finance Minister Nirmala Sitharaman on Friday morning slashed effective corporate tax to 25.17 percent inclusive of all cess and surcharges for domestic companies cheering everyone and sending the market to decadal single-day rally.
These are definitely bold and welcome measures. It will augur extremely well and will be highly positive for our economy, Das said at an event.
The RBI Governor said one of the major drawbacks that we had was high corporate tax rates and todays drastic cut in the same will take the country closer to the rates that prevail in emerging economies such as Thailand, and the Philippines.