Article
Suyash Rai, Anirudh Burman
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Source: Getty
In The Media
The Government’s Corporate Tax Move is Bold. But There is a Fiscal Risk
To boost growth, the government, on Friday, decided to risk the only engine of the tax system that has performed lately — corporate tax.
By Suyash Rai
Published on Sep 21, 2019
Source: Hindustan Times
Private consumption, the engine of the economy that had been firing most consistently in recent years, is losing steam. Two other engines — investments and exports — seem to be slowing down again after a brief period of robust activity. The result is 5% growth.
To boost growth, the government, on Friday, decided to risk the only engine of the tax system that has performed lately — corporate tax. In 2018-19, the actual collection (provisional) of corporate tax was Rs 6.63 lakh crore, against the budgeted Rs 6.21 lakh crore. The collections under other major taxes were much lower than budgeted.
This article was originally published in the Hindustan Times.
About the Author
Suyash Rai
Former Fellow, Carnegie India
Suyash Rai was a fellow at Carnegie India. His research focuses on the political economy of economic reforms, and the performance of public institutions in India.
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