Corporate tax cut a bad gamble
New Delhi, May 31 -- The Indian economy, like the rest of the world, is facing an unprecedented disruption because of the Covid-19 pandemic. Everywhere, governments are acting to minimise the economic damage. The Narendra Modi government has also announced a package amounting to 10% of India's GDP, including past fiscal and monetary measures . To be sure, fiscal stimulus in this package is just 1% of India's gross domestic product (GDP). This is lower than what most major economic have committed. Why did India hold back on the fiscal paddle? The Indian economy had been caught in a slowdown even before the pandemic hit. This made the case for a fiscal push even stronger....
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