 "revenue secretary ajay bhushan pandey")
As the announcement by former finance minister Arun Jaitley to cut corporate tax rate to 25 per cent across the board by FY19 remains to be implemented, Revenue Secretary Ajay Bhushan Pandey says every one percentage point reduction leads to revenue loss of Rs 15,000 crore. In an interview to Dilasha Seth and Indivjal Dhasmana, he says the rate will be reduced to 25 per cent for large corporates, too, as and when exemptions are phased out and revenues rise. Edited excerpts:
Isn’t India increasingly turning protectionist with the Budget hiking customs duty on a slew of items?
We have increased duty
