Views on FM Smt. Nirmala Sitharaman Press Conference - Acuité Ratings

Suman Chowdhury, President - ratings at Acuité Ratings & Research Ltd.

"Acuité Ratings has been consistently reiterating the need for fiscal measures in the context of a significant slowdown in domestic and the global economy. The tax rationalization announcement by the FM today is in line with our expectations and along with the ongoing accommodative monetary policy, should help to revive the economy over the next few quarters. The liberal cuts of almost 10% on corporate tax rates for both existing and also new manufacturing companies would surely have an impact on the fiscal deficit for the current year. Acuité believes it will improve the climate for fresh private sector investments in the manufacturing sector that the economy has been long deprived of. Further, the removal of surcharge on capital gains will act to boost the sentiment of the equity markets and the FPIs."

Source : Equity Bulls

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