Zee Business Hit Hai: FM says yes to what Anil Singhvi demanded for Indian economy; he predicted it so boldly!
Zee Business Managing Editor Anil Singhvi, who is known for his amazing finance, stock markets and business-related predictions had already said that the Indian economy will get a massive push if Modi 2.0 slashes corporate tax.
Modi government gave a big booster shot to Indian economy on Friday as Union Finance Minister Nirmala Sitharaman announced a series of tax incentives to boost the industry and restart investment. What is important and noteworthy here is that FM has listened to what Zee Business has been demanding and advocating in order to revive and boost the economy.
Zee Business Managing Editor Anil Singhvi, who is known for his amazing finance, stock markets and business-related predictions had already said that the Indian economy will get a massive push if Modi 2.0 slashes corporate tax. Zee Business and its Managing Editor Anil Singhvi always try their level best to give the best insights pertaining to finance and business world - this we do for our viewers so that they can gain maximum benefit out of our predictions, and eventually India Inc and the economy could witness a big jump.
Zee Business Managing Editor Anil Singhvi had so solidly predicted that if Modi 2.0 gives a booster shot to India Inc by cutting corporate tax, then markets and the business world will cheer and laud the government's historical move, and in turn this will give free reign for a bull run in the stock markets.
Finance Minister Nirmala Sitharaman announced a lowering of corporate tax rate on domestic companies to 22 per cent subject to such entities not availing any exemptions and incentives. Also, these companies will not be required to pay any Minimum Alternate Tax (MAT). Effective tax rate in this case would be 25.17 per cent, including cess and surcharge.
The Minister announced an even lower 15 per cent corporate tax rate for new domestic companies making fresh investment in manufacturing. These companies should have commenced production on or before March 31, 2023 and would also get exemption from MAT.