Fomer CM commented reduction in Corporate Tax won't benefit poor

Lucknow: Former CM of Uttar Pradesh Akhilesh Yadav said reduction in Corporate Tax won't benefit poor.

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To revive economy Nirmala Sitaraman announced several decisions in past press conference, including in those decisions she announced to slash corporate tax rate to 22 per cent from 30 per cent, Samajwadi Party leader Akhilesh Yadav said that the move will not benefit the poor.

"If a farmer's money comes to his account on time and he gets the right price for his farm produce then it will look good. (The reduction in) corporate tax is not going to benefit the poor people," Yadav said while addressing media here.

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Bringing in tax cuts and fiscal reliefs through an ordinance, the government had on Friday slashed domestic corporate tax to an effective 25.17 per cent, inclusive of all surcharges and cess, in a bid to promote growth and investments amid economic slowdown.Reduction in corporate tax won't benefit poor, says Akhilesh Yadav.

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