WEALTH BUSINESS NEWS

LEAD STORY

CORPORATE TAX CUT STEP IN RIGHT DIRECTION

Your image has changed completely with your bold, courageous slashing of corporate tax last week, from an effective 35% (with surcharges and cesses) to an effective 25.17%. You have grasped that India’s structural failures are more important than the current cyclical downswing in GDP. Keynesians would have advocated a cut in indirect taxes and rise in government spending to give an anti-cyclical boost to a slowing economy. But that would have been a one-off effort, to be reversed soon. By contrast, the cut in corporate tax is a structural reform with long-term effects. Read more...

AT A GLANCE

  • Fll Fund(m-o-m): -₹4,456.08 cr
  • Dll fund(m-o-m):₹12,490.81 cr
  • Mutual Fund(m-o-m):-₹11,029.33 cr
  • Nifty 50 PE:24.60
  • Nifty Midcap 100 PE:24.91

EVENTS - FGD (TENTATIVE DATES)

  • November 7, 2019 : Chennai
  • November 15, 2019 : Pune
  • November 22, 2019 : Bengaluru
  • November 29, 2019 : Kolkata

QUOTE OF THE MONTH

"In my opinion, if large corporates have only 1 CFO, either they should be incorrect, or they should have multiple CFOs. Alternatively, the strategy of several individual clients having two or more advisors is erroneous. Data shows that Corporations are right in having only one CFO. Therefore, if a person wants to have multiple advisors, it should be one at a time rather than simultaneously"

- Feroze Azeez, Deputy CEO, Anand Rathi Wealth Services Limited

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