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Economy

Narendra Modi's big tax cut unlikely to spur job bonanza

Updated : September 26, 2019 11:32 AM IST

With one eye on flagging demand, businesses in India are likely to bank the government's $20.4 billion corporate tax windfall rather than unleash the investments that Prime Minister Narendra Modi hopes will create millions of jobs and revive the economy.
The tax cuts, which Modi vowed would woo global private investment and improve India's competitiveness, came as a surprise to investors, many of whom had been complaining that Modi's government was not listening to their pleas for action on the economy. 
With an estimated 1.2 million youth entering India's labour market each month, Modi has made job creation a priority in his 'Make in India' plan, but manufacturing has been sluggish.
Narendra Modi's big tax cut unlikely to spur job bonanza
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