No need for further corporation tax cuts, says Abhijit Banerjee

I think you have to get the demand side going... you need to get money in the hands of people who will spend it now, people who need the money, says Abhijit Banerjee

Ahead of the Union Budget, Nobel Laureate Abhijit Banerjee has opposed any further cut in corporation tax rates. He stressed the need to push demand to encourage investment by India Inc.
 
At an event in New Delhi, Banerjee said corporate houses in India were sitting on a “pile of cash” without investing it in the economy. “There is no need for a further cut in corporate taxes. The corporate sector is sitting on cash and not investing due to a demand problem. The government needs to get the demand side going,” he said.
 
The government had cut the