Friday, Aug 14 2020 | Time 23:26 Hrs(IST)
  • Additional Rs 25 lakhs to be given in case of death of health workers
  • India welcomes establishment of ties between Israel, UAE
  • Health JS Lav Agarwal tests positive for COVID-19
  • Priyanka condoles death of Cong leader Surendra Goyal
  • Kothamangalam Church case: HC mulls possibility of summoning Central forces
  • Bihar Governor, CM extend greetings on Independence day
  • Kerala CM, Health Min test negative for COVID
  • Meghalaya Cabinet approves loan for Power Corporation
  • COVID cases surge to 211108, death toll reaches 3717 in K'taka
  • No question of withdrawal of free power to farmers: Amarinder
  • Amnesty schemes by Modi govt are designed to honour dishonest: Cong
  • Oppn should desist from petty politics in the name of freedom fighters : Khattar
  • India-Bangladesh border trade to resume through Meghalaya's Dawki land port
  • Containment zone in four villages in East Khasi Hills due to African Swine Flu
  • Guv extends greetings on I-Day eve
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.
''This also indicates that the government is adopting a tax stimulus route, rather than using increasing government spending route, to help the recovery process of the economy. Coming just ahead of the festive season, there could not have been a better news, as the entire country gets ready to celebrate,'' said Mr Kirloskar.
Director General of CII Chandrajit Banerjee said "We are truly heartened by the Finance Minister's announcements from Goa. The reduction in the corporate tax rate has been a long-standing demand from industry, as the high rate of taxation was making Indian industry uncompetitive, vis-à-vis its peers.
''The decisions to bring the corporate tax rate down to 22 per cent without exemptions, reduce MAT to 15 per cent and tax new manufacturing companies at 15 per cent, will have a very positive impact on the cost of doing business in India."
He said CII would like to congratulate the Minister for taking this decision without fearing for the fiscal deficit, as a lower tax rate will itself lead to higher revenue buoyancy and collections.
Together with earlier announcements, CII expects this to truly revive the 'animal spirits' of the industry and create the spark for igniting economic activity, sooner rather than later, he added.
More News
Mata Vaishno Devi pilgrimage to resume from Aug 16: Shrine Board

Mata Vaishno Devi pilgrimage to resume from Aug 16: Shrine Board

14 Aug 2020 | 11:20 PM

Jammu, Aug 13 (UNI) The much awaited yatra to the Holy Cave Shrine of Shri Mata Vaishno Devi situated in the Trikuta Hills of Reasi district of Jammu and Kashmir will resume from August 16 which was suspended on March 18 in view of the COVID-19.

see more..

Additional Rs 25 lakhs to be given in case of death of health workers

14 Aug 2020 | 11:03 PM

Srinagar, Aug 14 (UNI) The Jammu and Kashmir government on Friday approved an additional ex-gratia of Rs.25.00 lakhs in case of death of healthcare worker due to COVID-19.

see more..

Majithia exposes CM’s claim about Tarn Taran SSP not receiving complaints regarding spurious liquor

14 Aug 2020 | 10:51 PM

Chandigarh, Aug 14 (UNI) Former minister and senior Shiromani Akali Dal (SAD) leader Bikram Singh Majithia on Friday exposed chief minister Capt Amarinder Singh’s claims that former SSP Tarn Taran Dhurv Dahiya had not received any specific complaint regarding hooch production by releasing two written complaints submitted to the SSP by local citizens on his personal whats app number.

see more..

Gram Sabhas of each Haryana village should meet at least once in six months : CM

14 Aug 2020 | 10:10 PM

Chandigarh, Aug 14 (UNI) Haryana Chief Minister Manohar Lal Khattar said on Friday that for making sure that development and the various welfare schemes reaches the grassroot levels, Gram Sabhas of each village of the state should meet atleast once in six months.

see more..

No question of withdrawal of free power to farmers: Amarinder

14 Aug 2020 | 9:57 PM

Chandigarh, Aug 14 (UNI) Punjab Chief Minister Capt Amarinder Singh on Friday made it clear that there was no question of withdrawing free power to farmers in the state, and the same will continue as long as he is leading the government.

see more..