Business Union Cabinet approves sale of 5 PSUs, bill on tax reduction, amendments to TOT model: 6 key decisions taken Updated : November 21, 2019 06:58 AM IST The proposal is applicable to 1,797 identified unauthorised colonies spread over 175 square-km of the national capital inhabited by people from lower-income groups. The Union Cabinet approved a bill to replace an ordinance promulgated to reduce corporate tax to 22 percent to boost the economy. 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.