How're corporation tax cuts going to be financed? Is this helicopter money?

Slashing the government's take from corporate profits to 25.2 per cent from 34.9 per cent has given a boost to stock-market sentiment

India is making a second big fiscal gamble. The first – a switch from sales to consumption taxes – has failed to achieve revenue targets. The government, which two months ago was trying in desperation to tax everything that moved, has suddenly changed tack and is slashing levies on company profits.

Will this revive animal spirits and sputtering GDP growth, and at what cost to stability? That’s what investors want to know. But another crucial question, one whose answer will resonate globally, is whether the tax cut is going to be financed by newly printed currency rather than debt. In