Finance Minister Nirmala Sitharaman announced a corporate tax rate cut in September 2019. The tax cut aimed to make Indian corporate tax rates competitive and attract investment in manufacturing. The move was well received by the stock market, with Sensex surging on the day of the announcement. Analysts believe that the tax cut has helped boost the appeal of the Indian economy, especially in manufacturing. Other measures taken to enhance manufacturing include liberalizing FDI norms and introducing the PLI scheme.
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India has revealed that nearly 250 million people have been lifted out of multidimensional poverty. However, experts have raised doubts about the lack of relevant data.
India has revealed that almost 250 million people have been lifted out of multidimensional poverty. However, experts have raised doubts about a lack of relevant data.