Until March 27, the government has mopped up Rs 9.85 lakh crore in direct tax collections. This is well short of the Rs 11.70 lakh crore projected by the government in Budget 2020
Prince Thomas talks to Jinesh Shah from KPMG to find out what India Inc is looking for in Budget 2020.
The lower corporate tax cut is not just about savings, but may change how companies do business and raise a governance red flag as well
Reducing expenditure to offset the tax cuts and keep the deficit in check would be an own goal for the government
The cut in corporation tax to an effective 25.17 percent is expected to boost profitability of PSEs and government-owned banks.
Markets will take hope from the RBI governor's assertion that there is space for further rate cuts as the inflationary situation remains well under control.
The tax cuts were essential -- if they provide a cyclical boost too, that is an added bonus.
Balance sheet data for listed firms showed that the bulk of the cash was used for share buybacks, dividend payouts and for strengthening the balance sheet.
How companies plan to spend the tax bonanza will set the market mood for the medium-term
The government may fund part of the revenue foregone because of corporate tax cuts through the additional transfer of dividends and surplus from the Reserve Bank of India.
In his 2015 budget speech, former Finance Minister Arun Jaitley proposed that the rate of corporate tax would be brought down from 30 percent to 25 percent over the next four years.
This comes after the Twitter spat between the Biocon MD and FM Sitharaman a day ago, wherein Shaw had said that it was surprising that the announcement of the ban on e-cigarettes was coming from the finance minister and not the health minister.
The IT sector business is dependent on volatility in the external markets such as the US, UK and Europe than the domestic
In an interaction with Moneycontrol, Deepak Parekh, Chairman, HDFC, spoke about how the corporate tax rate cut could revive investments and market sentiment.
Senior Congress leader Jairam Ramesh dismissed 'Modi's 'trump card'' of cutting India's corporate tax rate, saying that its timing was dictated by his upcoming event 'HowdyModi' in Texas, US.
Mark Matthews of Bank Julius Baer is positive on India. A strong base effect coming from commodities and the banking space is the reason for his optimism.