The Modi government announces arguably its most decisive step in combating a slowdown that has taken the country's GDP growth rate down from 8 per cent to a six year low of 5 per cent. Corporate tax rates in India - among the highest in the world at 35 per cent - have been slashed to around 25 per cent, a drop of 10 per cent for existing companies. Tonight on The News, Shobana Kamineni, Executive Vice-Chairperson of Apollo Hospitals said that the tax cut is a good message and that prices will come down now. She further adds that tax cut shows a solid intent, and this will ensure that the tax base broadens.
