This comes at a time when the country was facing an economic slowdown
Finance Minister Nirmala Sitharaman announced that the effective corporate tax will be cut to 22 percent without exemptions.
This comes at a time when the country was facing an economic slowdown with the GDP growth in the June quarter being the slowest in the past six years.Moneycontrol Deputy Executive Editor Gaurav Chaudhary explains how the rate cut will benefit corporates; lower manufacturing taxes will help MSMEs, and make India an attractive investment destination.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.