Finance Minister Nirmala Sitharaman today announced a cut in corporate tax rate from 30 per cent to 22 per cent in a bid to attract manufacturers and revive private investment.
Notably, the Finance Minister is scheduled to hold a meeting with various agencies of public sector undertaking and other agencies that come under different ministries on Saturday, i.e., September 28.
“Tomorrow, we’ll have a separate meeting with different agencies of public sector undertaking and other agencies which come under different ministries,” Sitharaman told the reporters after her meeting with Secretaries and Financial Advisors of key selected Ministries on Friday.
In response to a question on the fiscal deficit target, Nirmala Sitharaman was quoted by a report as saying, “I’m looking to get expenditure going. At this moment I want to ensure government doesn’t sit on funds which is due.”