more-inIndustrialists and IT entrepreneurs expect a lot in the form of a stimulus package with cut in corporate tax in the Union Budget for 2018-19. He sought corporate tax slashed from 35 to 20%. Former Chairman and Managing Director of Rashtriya Ispat Nigam Limited Y. Siva Sagar Rao said the ban imposed on capital investment by public sector steel manufacturers such as RINL and SAIL in modernisation should be lifted. RINL, the corporate entity of Visakhapatnam Steel Plant, has already completed 7.3 million tonne expansion with an investment of ₹16,300 crore. Mr. Naresh Kumar also sought cut in cost of computers by lowering taxes, reduction in GST rates for IT industry and sops for import substitution of software in a big way under ‘Make in India’ programme.

Source: The Hindu January 27, 2018 18:33 UTC