Sitharaman and RBI Governor Das arrive to attend the RBI's central board meeting in New Delhi. File photo/ Reuters
Indian Finance Minister Nirmala Sitharaman announced a slew of measures on Friday to revive sagging investment in Asia's third largest economy including a cut in corporate taxes.
Sitharaman told a news conference that the effective corporate tax rate will be lowered to 25.75% from 30%, which she said would be at par with Asian peers.
The government also scrapped the minimum alternative tax for domestic companies.
India has attracted total foreign direct investment (FDI) inflow of $67.54 billion during April to December 2020, Centre said on Thursday.
India’s strong economic recovery, an expectation of low-interest environment and improved asset income visibility may drive investments in 2021, according to a survey on capital markets by property consultancy firm JLL India.
India is considering revising its foreign investment rules for e-commerce, three sources and a government spokesman told Reuters, a move that could compel players, including Amazon.com, to restructure their ties with some major sellers.
Nearly 13,400 people were forced to evacuate as water consumed hundreds of homes around the country, turning some streets into raging rivers of brown water, according to Haiti’s Civil Protection Agency.
Sheikh Hamdan said on Twitter, "We extend our sincere condolences and sympathy to the family, relatives, companions and readers of Khalid Al Qashtini, the Iraqi journalist and writer, and the owner of the creative pen, who enriched our Arab world with his publications. With his departure, the Arab media loses a symbol of creativity.”
The authorities said, “Abu Dhabi Police and Abu Dhabi Civil Defence Authority teams are dealing with a fire that broke out this evening at a warehouse in Mussafah industrial area.
"Every year, over 400m tonnes of plastic is produced worldwide - one-third of which is used just once,” said Antonio Guterres. "Every day, the equivalent of over 2,000 garbage trucks full of plastic is dumped into our oceans, rivers, and lakes.”