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Budget 2015: Chidu is wrong to claim corporates are main gainers

Mar 01, 2015    

The more-or-less glum faces in India Inc even after the finance minister announced a four-stage cut in corporate taxes from 30 percent to 25 percent over four years tells its own story. It also gives the lie to former Finance Minister P Chidambaram's claims that the NDA budget is pro-corporate and anti-poor.Chidambaram wrote in The Economic Times: The budget speech has shown great concern for the corporates and income taxpayers (3.5 crore).Few countries have corporate tax rates lower than 30 percent. According to the finance minister, the effective rate is 23 percent. He has promised them a 1 ...

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