Saturday, Oct 19 2019 | Time 23:52 Hrs(IST)
  • Three children die of contagious diseases in Kushinagar
  • IAS letter draws comment from Minister
  • Din and bustle of electioneering ends in Jhabua
  • Fadnavis addresses 65 rallies on last day of election campaigning
  • Recounting govt's dev schemes,Amit Shah says Modi is uplifting tribals unlike Cong's 'use & throw' policy
  • India should join hand with China to isolate Pakistan: Subarmaniam Swamy
  • NSCN (IM) reposes faith in PM Modi, insists on Naga unity
  • BJP is synonymous with deceit: MP CM
  • Campaign ends for Assy polls in Haryana, Mah, bypolls in 53 Assy seats in 15 states
  • Mah campaign trail winds down for Monday's Assembly polls
  • Indian BSF showed hegemoni, says Bangladesh FM
  • Mah assy polls:Campaigning ends; 3,239 candidates in fray for 288 seats
  • Heads of Foreign Missions to visit Golden Temple, Amritsar on Oct 22
  • Development of NE priority of Modi Govt: MoS Nityanand Rai
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

Three children die of contagious diseases in Kushinagar

19 Oct 2019 | 11:37 PM

Kushinagar, Oct 19 (UNI) Panic triggered in Sevarhi area when three children died of contagious diseases in past six days.

see more..

IAS letter draws comment from Minister

19 Oct 2019 | 11:36 PM

Indore, MP, Oct 19 (UNI) Madhya Pradesh Public Works Minister Sajjan Singh Verma underlined on Saturday that senior bureaucrats ought to comprehend their responsibilities towards the public.

see more..

Din and bustle of electioneering ends in Jhabua

19 Oct 2019 | 11:02 PM

Jhabua, MP, Oct 19 (UNI) The hurly-burly of campaigning died down on Saturday evening in tribal-dominated Jhabua Assembly constituency that is witnessing a by-poll.

see more..

Stringent actions would be taken against murderers of Kamlesh Tewari: Yogi

19 Oct 2019 | 10:46 PM

Lucknow, Oct 19 (UNI) Uttar Pradesh Chief Minister Yogi Adityanath has claimed that murderers of Hindu Samaj Party (HSP) leader will be nabbed soon and they will face stringent legal action.

see more..

BJP's Rana courts controversy by saying that Hindus must buy swords on Dhanteras for safety

19 Oct 2019 | 10:39 PM

Saharanpur, Oct 19 (UNI) Bharatiya Janata Party (BJP) leader Gajraj Rana here delivered a controversial statement that all followers of Hinduism should buy swords on Dhanteras, a Hindu festival when people generally buy utensils.

see more..