Manmohan Singh had this simple comeback to Nirmala Sitharaman pointing out the financial disaster that the UPA government created in Public Sector Banks.
1- 22 per cent of Corporate Tax Rate because it is the optimal tax rate implies that revenue maximization is the key driver of taxation policy going forward.
With the tax cuts announced yesterday by Modi government, India’s corporate tax rate on manufacturers is now among the lowest in the world, comparable or even lower than business paradise destinations like Hong Kong or Singapore.