Anand Mahindra comes to Nirmala Sitharaman's defence, shuts trolls

Business tycoon Anand Mahindra, who is in US right w, welcomed move to slash corporate taxes by government on Friday. He took to Twitter and termed anuncement " best way to start day". ding that Finance Minister Nirmala Sitharaman fired a shot that will be heard around world, Anand Mahindra asserted that with cuts in taxes, 'India has sent an invitation letter to global investors'.

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Later in his tweets, Anand Mahindra came out in defence of Nirmala Sitharaman and gave a befitting reply to Twitter users questioning timing of tax cut anuncements by Finance Minister. He shut down trolls on accusations that she did t take step to reduce corporate tax in time.

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India Inc hails move

rate cuts in corporate taxes were widely accepted and appreciated by leers in  Indian business sector and acemia. who's who of India Inc hailed introduction of tax cuts as 'bold move', 'a progressive step', and 'much-needed booster-does' among or things. Biocon Kiran Chairperson and Managing Director Mazumdar Shaw took to Twitter and called step a 'great move'. Kotak Mahindra Bank CEO Uday Kotak regarded tax cuts as a 'progressive one'. He ded that reducing corporate tax rate to 25% is big bang reform.

Big tax cuts anunced

In a major fiscal booster, government on Friday slashed effective corporate tax to 25.17 per cent inclusive of all cess and surcharges for domestic companies. government also offered a lower rate to 17.01 per cent for new manufacturing firms in order to boost ecomic growth rate to help create jobs. Finance Minister Nirmala Sitharaman said new tax rate will be applicable from current fiscal which began on April 1. She said that  reduction in tax rates has been done by promulgating an ordinance to an amendment to Income Tax Act with effect from fiscal year 2019-20. 

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