By Abhishek Vishnoi and Nupur Acharya India’s reduction in the corporate tax rate to among Asia’s lowest was welcomed by investors as a boon that may help spur economic growth and company profits. The effective corporate tax rate for all domestic companies will be 25.2%, lowered from 30%, the government announced Friday. That reduces it to the same level as Singapore. “This move means concerns on India are quite well covered for the time being,” said Felix Lam, Hong Kong-based senior Asia Pacific equities fund manager at BNP Paribas SA. “We have to now see what companies do in terms of investments and what consumers do in terms of spending.” The benchmark Sensex Index headed for its biggest gain in a decade, climbing as much as 6.3% after the unexpected reduction. The gains wiped out a year-to-date loss that had triggered a so-called correction Thursday as the gauge registered a 10% drop from a record high touched in June. Foreign investors had … [Read more...] about FPIs turn bullish on India, say tax cut eases worries over economy
Bush tax cuts
When the charm of a salary hike is deflated by a higher tax bracket
For Quick Alerts Subscribe Now Here are your evening stories View Sample For Quick Alerts ALLOW NOTIFICATIONS For Daily Alerts Just In 10 min ago Saudi air force trainee open fired at US navy base, 3 killed 19 min ago Post-mortem of 4 accused in Hyderabad rape-murder case videographed 43 min ago Set ablaze, Unnao rape viticm dies in Delhi Safdarjung Hospital Must Watch Don't Miss Movies Vivian Dsena, Harshad Chopda, Mohsin Khan & Asim Riaz Make It To 'Top 50 Sexiest Asian Men Of 2019' Sports I-League 2019-20: NFC 1-0 AFC: Neroca prevail in the first Northeastern Derby of the season Technology Samsung Galaxy A31 Color Options Revealed: Rumored Specs, Launch Date And More Lifestyle Kareena Kapoor Khan's Diet Revealed By Her Nutritionist Rujuta Diwekar Automobiles KTM 390 Adventure Unveiled At India Bike Week 2019: Here Are All The Details Travel A Brief Travel Guide For Solo Travellers To Conquer South India Education … [Read more...] about When the charm of a salary hike is deflated by a higher tax bracket
Can’t cut rates every time mechanically, says Shaktikanta Das
MUMBAI: RBI governor Shaktikanta Das’ decision to hold rates came as a shocker to the markets. He, however, reassured markets that it was a pause and there was room for one more cut. While stating that growth was a national objective and the RBI will work with the Centre to achieve it, he put the ball in the government’s court, saying he would watch out for counter-cyclical and fiscal measures, if any, in the Budget. Excerpts from his interaction with the media: Why RBI did not cut rates? We decided to pause at this juncture to see how inflation plays out. It is expected that inflation will ease to 3.8% in the second quarter next year but there are several uncertainties and the committee would like to have greater clarity. We would also like to watch out for the Budget to see what fiscal and counter-cyclical measures, if any, will be announced by the government. You must cut when the impact would be maximum; the timing is also very important rather than going on … [Read more...] about Can’t cut rates every time mechanically, says Shaktikanta Das
Bush seeks support on Iraq in final address
The following is the text of US President George W Bush's final State of the Union address delivered to Congress on Monday: Madam Speaker, Vice President Cheney, Members of Congress, distinguished guests, and fellow citizens: Seven years have passed since I first stood before you at this rostrum.In that time, our country has been tested in ways none of us could have imagined.We have faced hard decisions about peace and war, rising competition in the world economy, and the health and welfare of our citizens. These issues call for vigorous debate, and I think it's fair to say we've answered that call. Yet history will record that amid our differences, we acted with purpose. And together, we showed the world the power and resilience of American self-government. All of us were sent to Washington to carry out the people's business. That is the purpose of this body. It is the meaning of our oath. And it remains our charge to keep. The actions of the 110th Congress will affect the security … [Read more...] about Bush seeks support on Iraq in final address
GST rate cut on auto will be helpful: Ayukawa
It would be a welcome step if the government cuts the Goods and Services Tax rate on automobiles, Maruti Suzuki MD and CEO Kenichi Ayukawa said on Wednesday, adding that in the past, tax rate cuts by the government have worked to stimulate demand.Mr. Ayukawa added that apart from government intervention, it was very important for companies to engage with the market and the customers in order to encourage demand.“We are also very concerned [about the level of demand],” Mr. Ayukawa said during the launch of Maruti Suzuki’s new MPV, the XL6. “Unfortunately, this fiscal year, the market has shown a more than double digit slowdown. We have to approach the customer and I expect that the new product being introduced in the market will help the market demand recover.”“If you look at the history of the industry, the last time there was a slowdown, some tax deduction did help in encouraging the market,” Mr. Ayukawa added. “I believe if the … [Read more...] about GST rate cut on auto will be helpful: Ayukawa
