New Delhi: Union Finance Minister Nirmala Sitharaman announced several steps to improve the economy in the past. In this sequence, the Finance Minister announced a huge relief for the industry and announced a reduction in corporate tax. Moody's, who reduced India's growth rate estimate, has given a positive statement on this. Moody's described the move as a good move for companies. Moody's Investor Service said that the cut in corporate tax rates will increase the income of Indian companies and this is a good move.

Vikas Halan, senior vice-president of Moody's Corporate Finance Group, has said that the government's decision to reduce corporate tax can be very beneficial for companies. Vikas Halan, senior vice-president of Moody's Corporate Finance Group, said, "The government's decision to reduce the corporate tax to 30 to 22 per cent will give good returns to companies." This will increase the income of Indian companies. Vikas Halan said that the credit profile of Indian companies depends on whether they will use surplus to reinvest in the business, reduce debt or at high returns from share holders. This move of the government has been welcomed by many institutions including the industry.

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Industry welcomed the decision of Finance Minister of fall in corporate tax