India Budget 2018
As the final budget of the NDA government, the focus on rural spending has been the theme but by and large, the government has not introduced any noteworthy changes which will boost economic activity.
The corporate tax structure for MSMEs has been revised downwards to 25% but there is no change for large companies. This is contrary to what the Finance Minister had promised when the government came to power. Hence, the hope was that there will be a universal cut in corporate taxes for all companies.
Essentially, the government has refrained from following the global trend of corporate tax reductions as being witnessed in the USA, the European Union, China, and other countries which will follow. This could potentially harm Indian companies competitiveness over the long-term.
[Fyers is an online stockbroker with the best trading platform in India. Tejas Khoday is the Co-Founder & CEO of FYERS]