The Centre slashed corporate tax by almost 10 percentage points on Friday.
Hyderabad: AIMIM president Asaduddin Owaisi hit out at the Centre’s move to slash corporate tax on Friday, wondering whether it was the working people or industrialists who were in need of relief in times of “economic crisis.”
“In an economic crisis with mass unemployment, who should get relief from burdensome taxes & service fees?” Owaisi asked. “Should it be big business or YOU? Who’s more in need of “relief”: industrialists or working people?”
In the biggest reduction in 28 years, the Centre has slashed corporate tax by almost 10 percentage points as it looked to pull the economy out of a six-year-low growth and a 45-year-high unemployment by reviving private investments with a ₹1.45-lakh-crore tax break.
“Why’s @nisitharaman in such a giving mood,” Owaisi tweeted.
“Corporations get loans written off & their tax liability is slashed,” the All India Majlis-e-Ittehad-ul-Muslimeen leader said. “Debt-ridded farmers & unemployed young men with education loans are asked to fend for themselves. Rob the poor, reward the rich”.