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Last Updated : Sep 24, 2019 04:31 PM IST | Source: Moneycontrol.com

In Pics | Here's what RBI Governor, business leaders said about FM Nirmala Sitharaman's corporate tax cut

From RBI Governor Shaktikanta Das to HDFC Chairman Deepak Parekh, here's who India Inc reacted to Finance Minister Nirmala Sitharaman's announcement to cut corporate tax to 22 percent.

Moneycontrol News @moneycontrolcom
Finance Minister Nirmala Sitharaman on September 20 announced that the corporate tax rate lashed the effective corporate tax from 30 percent to 25.17 percent, inclusive of all cess and surcharges for domestic companies
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Finance Minister Nirmala Sitharaman on September 20 announced that the effective corporate tax rate will be slashed from 30 percent to 25.17 percent, inclusive of all cess and surcharges for domestic companies. (Image: PTI)

RBI Governor Shaktikanta Das |
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RBI Governor Shaktikanta Das | "This is a very bold measure. These tax rates bring us closer to the rates of all the emerging economies in this part of the world. There's a lot of competition between Vietnam, Philippines and India to attract international investments." (Image: RBI)

HDFC Chairman Deepak Parekh |
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HDFC Chairman Deepak Parekh | "Money available for reinvestment and paying better dividend will be there. You can plough back money and make the company stronger because only 25 percent goes in taxes. It is a great boon." (Image: PTI)

Mahindra & Mahindra Managing Director Pawan Goenka |
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Mahindra & Mahindra Managing Director Pawan Goenka | "Looks like Diwali has come early." (Image: Mahindra and Mahindra)

MD & CEO - ICICI Lombard General Insurance Bhargav Dasgupta |
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MD & CEO - ICICI Lombard General Insurance Bhargav Dasgupta | "As an economy we needed a large stimulus and we believe that this should be the trigger for the change in the mood that was desperately needed.” (Image: ICICI Lombard)

MD and CEO - Aditya Birla Sun Life AMC A Balasubramanian | “The 15 percent tax for new manufacturing set-ups will encourage new investments pretty quickly.” (Image: Aditya Birla Sun Life Mutual Funds)
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MD and CEO - Aditya Birla Sun Life AMC A Balasubramanian | “The 15 percent tax for new manufacturing set-ups will encourage new investments pretty quickly.” (Image: Aditya Birla Sun Life Mutual Funds)

Representative image
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CFO of Aurobindo Pharma Santhanam Subramanian | "This is going to propel the capex growth." (Image: Moneycontrol)

Vijay Mansukhani
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Managing Director of MIRC Electronics (Onida) Vijay Mansukhani | "The overall demand scenario would improve across sectors as the government has directed public sector banks and NBFCs to increase retail credit." (Image: MIRC Electronics)

GP Hinduja | Co-chairman, Hinduja Group | This colossal verdict is also the vote for economic stability and hope for aspirations of young India. It also brings a responsibility on PM Modi’s shoulders to speed up the economic reforms to accelerate India’s economic trajectory. We need more FDI to come in, more investors and more industry to come into India. NDA 2.0 has to roll out the red carpet to further improve ease of doing business by enhancing Centre-State coordination through a GST like council. (Image: Hinduja Group)
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Co-Chairman - Hinduja Group Gopichand P. Hinduja | “I only wish more such steps, which government is already contemplating, could be taken together in one go like tapping NRI investments, with this one so as to create deeper impact, instill more confidence in economy and amongst corporates." (Image: Hinduja Group)

KPMG's Partner and Co-head of Tax, Hitesh D Gajaria | “The next follow-through steps eagerly awaited were moving the tax on dividends to shareholders and freeing companies from the Dividend Distribution Tax burden.” (Image: KPMG)
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KPMG's Partner and Co-head of Tax, Hitesh D Gajaria | “The next follow-through steps eagerly awaited were moving the tax on dividends to shareholders and freeing companies from the Dividend Distribution Tax burden.” (Image: KPMG)

First Published on Sep 20, 2019 04:38 pm
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