Now, the kitchen sink: Finance minister has kissed fiscal restraint goodbye

All previous announcements having failed to do the trick, Nirmala Sitharaman has thrown the kitchen sink at the problem of slack economic growth — officially recorded for the last economic quarter at 5 per cent, and expected by many observers to be even lower in the current quarter. In slashing the corporation tax rate to the long-promised 25 per cent, the finance minister has delivered what her predecessor promised five years ago, and which a draft direct tax code had proposed even earlier. She has thus brought the corporation tax rate closer to the levels in other countries in the regi.....

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