Friday, Mar 29 2024 | Time 13:24 Hrs(IST)
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States » North


CII welcomes Corporate tax cuts, will stimulate sentiments

Chandigarh, Sep 20 (UNI) The Confederation of Indian Industry (CII) on Friday welcomed the Centre's move to slash the Corporate Tax and taking other measures, which would provide a major booster to the Industrial sector and kicking pace to the sagging economy.
In a statement issued here, President of CII Vikram Kirloskar said, "Finance Minister Sitaraman's mega Corporate Tax stimulus is a major move to boost investors sentiments, encourage manufacturing and awaken animal spirits in the economy. Cut in corporate tax from 30 per cent to 22 per cent without exemptions, has been a long standing demand of industry and is an unprecedented and bold move by the government.
"CII is thankful to the Union Government for being so receptive and open to suggestions from the industry. This consultative approach has further bolstered positive spirits in industry that the government is on a fearless track, to ensure that India becomes competitive on tax rates, in tandem with the rest of the world.
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