(PTI)
Finance Minister Arun Jaitley will be under pressure to moderate tax rate for the industry which was promised a lower levy of 25 per cent by the government three years ago, experts said. With the US substantially cutting corporate tax, the minister will also need to keep India’s tax rate globally competitive, they added.
The industry is doubtful whether Jaitley would fulfil his promise of reducing corporate tax rate from 30 per cent to 25 per cent over four years. However, it wants the minister to consider moderating it to at least 28 per cent in the forthcoming Budget. To be unveiled on February 1, it would be the last full Budget of the present NDA government.
