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Nirmala Sitharaman Announces These Measures To Boost 'Make In India'

In an effort to aid the domestic sector fighting economic slowdown, the Narendra Modi government on Friday announced corporate tax rates to be slashed for domestic companies and for new domestic manufacturing companies. Announcing the key measure, Union Finance Minister Nirmala Sitharaman said that, ‘to boost Make in India, another insertion inserted to Income Tax Act with effect from 2019-20, which allows any new domestic company incorporated on or after 1st Oct 2019 making fresh investment in manufacturing an option to pay income tax at rate of 15%.’

Updated : 20 September 2019, 12:25 PM