views of from Mr. Kamlesh Patel, CMD, Asian Granito and Mr. Jignesh Madhwani, Promoter, Torin Wealth Management on the FM announcement today. 

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Mr. Kamlesh Patel, Chairman and Managing Director, Asian Granito India Ltd

“In one sentence, the series of announcements will provide much-needed relief to the economy and the industries, boost investment and manufacturing activities aiming at job creation and lend a helping hand in fighting global slowdown. The Government finally delivered on its promise to reduce corporate tax. Announced Tax reforms along with series of important announcements will help revive the manufacturing sector and consumption in the economy.  These radical and transformative measures should go a long way in making ‘Make in India’ successful and right step towards becoming a US $ 5 trillion economy by 2025. “

Mr. Jignesh Madhwani, Promoter & Partner, Torin Wealth Management

“The reduction in corporate tax rates follows a series of steps to boost demand and investments after growth slowed to 5% in the quarter ended June. The move puts India’s tax rate on par with Asian peers and will boost efforts to attract investments as companies look for alternative destinations to sidestep supply chain disruptions from the U.S – China trade war.  The government has taken a bold and proactive step to bring the much-needed tax reforms, which will boost investment and also aid to private cycle capex. The lowering of corporate tax rates will widen the tax net and gradually bring in more revenues to the government. Overall, the move will make Indian companies globally competitive, a welcome step to arrest slowdown and lift up the market sentiments”

Corporate Comm India (CCI Newswire)