In a major fiscal booster, the government slashed effective corporate tax to 25.17 per cent inclusive of all cess and surcharges for domestic companies.
Finance Minister Nirmala Sitharaman on Friday said the revenue foregone on reduction in corporate tax and other relief measures will be Rs 1.45 trillion annually.
This, she said is being done to promote investment and growth.
Das also reiterated the possibility of more rate cuts if incoming data support such a move but warned against government initiating any fiscal expansion, saying it has no legroom to do so given the high deficit numbers.
He also called for urgent structural reforms especially inland and labour as well as entrepreneurial areas.