Hailing the reduction in corporate tax and other fiscal relief measures as "bold", policy makers on Friday said the government's decision has infused fresh energy into the industry and will boost economic growth.
Commerce and Industry Minister Piyush Goyal thanked Finance Minister Nirmala Sitharaman for the announcements.
"I would like to thanks FM @nsitharaman for announcing cut to the corporate tax rate for all domestic companies which has been reduced to 22 per cent from the current which was nearly 35 per cent," he said in a tweet:
In his comments, Niti Aayog Chief Executive Officer Amitabh Kant said, "Brilliant move! Way to go! Will provide a major impetus to animal spirits."
FICCI President Sandip Somany said, "Lowering of income tax on corporates is a long-standing FICCI request."
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