India sees a rise in stock after reducing corporate taxes

Posted by Aktis Team on 20 September 2019

To revive India’s economy, Nirmala Sitharaman, finance minister, decreased corporate tax rates from 30 percent to 22 percent - the lowest level in India post-independence. New manufacturing companies will be at an advantage, their basic tax rate will be reduced from 25 percent to 15 percent, if they incorporate after October 1 and their production is effective by March 31, 2023. Indian entrepreneurs have depicted the cut as a transformative and confident act. Following the cut, Indian stocks increased considerably, closing 5.5 percent on the BSE Sensex.

 

The Financial Times, Amy Kazmin, September 20th 2019

 

Topics: News Watch, Asia