Mumbai: The Indian rupee on Friday rose by 40 paise to settle at 70.94 to the US dollar after forex market sentiment was buoyed by the government decision to slash corporate taxes. The news of lowering corporate tax rejoiced the equity market as well, but the bond market did not take the announcement very well. […]
Read MoreThe government on Friday slashed the income tax rate for companies (corporate tax) by almost 10 percentage points to 25.17 per cent and offered a lower rate to 17.01 per cent for new manufacturing firms to boost economic growth rate from a six-year low by incentivising investments to help create jobs. Finance Minister Nirmala Sitharaman […]
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