A beleaguered Narendra Modi government has finally given in to long-pending demands by Indian corporates and cut tax rates for companies. This has the potential to boost sagging investment sentiment. But now companies must pass on the benefit to consumers and employees to try and trigger a spurt in consumption.
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A welcome initiative. Early to judge how much immediate boost it will provide, beyond lifting the sentiment. Of course, that too is required. A jeweller has said he filed a Nil GST report for August, did not sell anything during the month, the most painful phase in a twenty year career. For the government to accept reality and start working on solutions is praiseworthy. It would help to shut out the static that is created by distractions, focus entirely on the economy. After bestowing a second term, the electorate is entitled to both dividends and a few bonus shares.