RBI governor Shaktikanta Das welcomes corporate tax cut for domestic firms

New Delhi, Sep 20: The Governor of Reserve Bank of India, Shaktikanta Das, on Friday welcomed the Finance Ministry's decision to slash effective corporate tax to 25.17 per cent inclusive of all cess and surcharges for domestic firms.

Earlier in the day, Union Finance Minister Nirmala Sitharaman announced that the new tax will be applicable from the current fiscal which began on April 1.

While speaking at the India Today Conclave in this regard, Das said the measures taken by the government will "help revive the economy".

"This is a bold and welcome decision. During Arun Jaitley's tenure as FM (Finance Minister), the corporate tax was reduced from 30 to 25 per cent. This was one of the hurdles, and the measures will help revive the economy," the RBI Governor said.

Responding to a question on the economic slowdown, Das said the situation is the same in "almost all advanced economies".