NEW DELHI: Industry body CII has made a case for bringing down the corporate tax rate to 18% along with elimination of all exemptions saying it will not result in any loss to the exchequer. The Modi 1.0 government had proposed to bring down the corporate tax rate from 30% to 25% gradually. "Our numbers show that 18% corporate tax along with zero exemptions could be revenue neutral. When asked about the high unemployment rate as per the government data, Kirloskar said he was "not so comfortable" with the NSSO data. The recent NSSO data showed that unemployment at 6.1% of total labour force during 2017-18 was the highest in 45 years.

Source: Mint June 11, 2019 13:18 UTC