Budget 2018: 'One size fits all' sows seeds of initiatives in key sectors

India is already enjoying the reputation of being the first country to impose Equalisation levy

This year’s Budget for all practical purposes has been a one-size-fits-all budget. In the present scheme of things, the government had to perform the balancing act of providing for economic revival, giving prominence to people-centric policies and charting out a clearer growth avenue. In this background, expecting a horizontal corporate tax rate cut was thought by many as an over-exaggerated corporate whim. The current status quo of Indian corporate tax rate at 30 per cent clearly accentuates India as an outlier in the current world order where cutting corporate tax rates is embraced seamlessly by one of the largest economies