India will not revise its fiscal deficit target immediately and is not planning ...
A man walks at the seafront as scattered clouds are seen over Mumbai's skyline, India, June 10, 2015. REUTERS/Danish Siddiqui
India cut corporate tax rates on Friday in a surprise move designed to woo manufacturers, revive private investment and lift growth from a six-year low that has led to major job losses and fueled discontent in the countryside. The measures will cut revenue by 1.45 trillion rupees in the current fiscal year, according to government estimates.
“At this point of time we are not revising any target. The decision will be taken later,” she told reporters at her residence in New Delhi on Sunday, adding that there was no plan to cut spending currently.
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