New Delhi: Hours after Union Minister Nirmala Sitharaman announced the government’s move to slash corporate tax rates for the domestic market, Congress leader Rahul Gandhi took a jibe at Prime Minister Narendra Modi ahead of his ‘HowdyModi’ event in Houston, saying no event can hide the reality of economic mess ‘HowdyModi’ event has driven India into.
“Amazing what PM is ready to do for a stock market bump during his #HowdyIndianEconomy jamboree. At + 1.4 Lakh Crore Rs. the Houston event is the world’s most expensive event, ever! But, no event can hide the reality of the economic mess “HowdyModi” has driven India into,” he said.
The former Congress president earlier too slammed the Prime Minister for the economic slowdown in the country ahead of his ‘HowdyModi’ event. “Howdy economy doin’, Mr Modi? Ain’t too good it seems. #HowdyEconomy,” he had said in a tweet.
With just two days left for the mega ‘Howdy Modi‘ event where US President Donald Trump will join Prime Minister Narendra Modi in Houston, tropical depression Imelda has hit Texas, leading to flooding of several areas.
Prime Minister Narendra Modi, who is scheduled to address over 50,000 Indians in Houston, on Friday praised his government’s corporate tax cut announcement and called the move historic.
“The step to cut corporate tax is historic. It will give a great stimulus to Make in India, attract private investment from across the globe, improve the competitiveness of our private sector, create more jobs and result in a win-win for 130 crore Indians”, PM Modi tweeted,
Earlier in the day, Sitharaman announced a proposal to slash corporate tax rates for domestic companies and for new domestic manufacturing companies under the Income Tax Act. The announcements were made to promote economic growth under ‘Make in India’.
“To boost Make in India, another insertion inserted to Income Tax Act with effect from 2019-20, which allows any new domestic company incorporated on or after 1st Oct 2019 making fresh investment in manufacturing an option to pay income tax at a rate of 15%,” Sitharaman asserted.