Diwali before Diwali: An unprecedented reduction in corporate tax

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New delhi date. September 20, 2019, Friday

With India's GDP falling to five per cent, the government is constantly taking steps to boost the economy. Out of which, today, the Modi government has announced an unprecedented reduction in corporate tax. Corporate tax has been reduced from 30 percent to 22 percent. The favorable impact of this announcement was seen in the stock market. The stock market today witnessed the biggest daily rise in the last ten years.

The Sensex rose 1921 points (5.32 percent) to end at 38014 and the Nifty closed 569 points to 11274. The announcement was made before Prime Minister Modi left for the United States. According to sources, Trump is likely to announce investment in India in an interview with Prime Minister Modi, which will reduce corporate tax in India.

India is likely to benefit from this war when a trade war is underway between China and the United States, and there is a debate in Delhi that Chinese investors are coming to India in an internationally private agreement and that is why it was decided to announce this before Modi goes to the United States.

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