Letter to BS: FM Sitharaman deserves accolades for two recent tax reforms

The recent reforms will give boost to new entrepreneurs and attract foreign investors to invest in India

Finance Minister Nirmala Sitharaman deserves to be congratulated for the two significant tax reforms recently. The first one being slashing of corporate tax from 30 per cent to 22 per cent that will enthuse the industrial community to bring in capital investment. The second being the most unique tax reform, never heard of in any economy in the world — that is, any new company desirous of starting a new business after October 1, 2019, and commencing production before March 2023, will pay only 15 per cent corporate tax. This will certainly give a boost to any new entrepreneur to