Corporate tax cuts don't go far enough

The single most long-standing demand of India Inc has been a reduction of the corporate tax rate

Finance Minister Nirmala Sitharaman presented her maiden Budget in Parliament amid soaring expectations in regard to revival of investment sentiment, acceleration of economic growth and provision of tax incentives. In the backdrop of a slowing economy, weakening consumption, rural distress and high unemployment, she had an arduous task — to revive public and private investment, drive consumption and yet keep the fiscal deficit under control. 

The Budget has attempted to stimulate the economy by incentivising businesses, promoting the rural economy and improving education. There are measures to promote “ease of living”, incentivise home-grown start-ups, recapitalise public sector banks, divestment of PSUs,