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.....

Key stories on are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.