Govt stares at tax shortfall of Rs 2 lakh crore; room for income tax cut limited

The hope was that Sitharaman would announce sops for individual taxpayers, but lower-than-expected tax collections and govt missing disinvestment target by a wide margin would limit her largesse. The exchequer was shaved off Rs 1.45 lakh cr as the government slashed corporate tax rates up to 10 percentage points, the biggest reduction in 28 years.

from Economy-News-Economic Times https://ift.tt/2NX6nnK
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