Modi's big tax cut unlikely to spur job bonanza
- Economists say while the tax cut brings the cost of doing business in India into line with its Asian rivals, the govt giveaway will do little to fix the lack of spending power
- A GST cut to reduce prices for consumers would have had a more significant impact
Mumbai/New Delhi: With one eye on flagging demand, businesses in India are likely to bank the government's $20.4 billion corporate tax windfall rather than unleash the investments that Prime Minister Narendra Modi hopes will create millions of jobs and revive the economy.
Login to enjoy exclusive benefits!
- Unlocked premium articles
- Personalized news
- Market Watchlist
- Insightful Newsletters & more