Kapil Sibal On Tax Cut

    0
    24


    Congress leader Kapil Sibal targetted the government over its decision to reduce corporate tax

    New Delhi: 

    Senior Congress leader Kapil Sibal today attacked the government over its move to cut corporate tax, alleging that the rich will benefit while the poor left to fend for themselves.

    The government on Friday slashed corporate tax rates for companies by almost 10 percentage points to 25.17 per cent and offered a lower rate to 17.01 per cent for new manufacturing firms to boost economic growth rate from a six-year low by incentivising investments to help create jobs.

    “Howdy, Modi”. Corporate Diwali. India foregoes 1.45 lakh cr. revenue. Need Diwali for needy folk!” Mr Sibal said in a tweet.

    “Extra money in corporate hands will not boost demand. Need extra money in hands of rural India to spur consumption. The rich will benefit. The poor left to fend for themselves,” he claimed.

    The Congress on Friday had termed the corporate tax cut a “panic reaction” by the government and linked it to the “Howdy, Modi” event in Houston, with Rahul Gandhi saying he is “amazed at what Narendra Modi can do for a stock market bump” before the community event.

    Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24×7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.





    Source link

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here