Business Corporate tax reduction was long overdue, but it is not a magic pill Updated : September 25, 2019 06:29 AM IST As per the government’s calculations, this tax reduction will cost around $20 billion which is around 0.7 percent of GDP. Caution needs to be exercised before continuing down the path of more stimulus. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.