Going For Growth: Global investors decode Nirmala Sitharaman’s corporate tax cut announcement

Ahead of Prime Minister Narendra Modi's meetings with 56 CEOs in the United States, the center today reduced corporate tax rate from 34.94 percent to 25.17 percent. Effective tax rate for new manufacturing companies would now be 17 percent instead of 25 percent. The total revenue loss as a result of this tax cut would be Rs 1.45 lakh crore annually.