The growth slowdown has been sharp, much worse than expected, and the recent drone attack on Saudi oil installation and the consequent worsening of the geo-political situation in West Asia has emerged as another headwind for the economy and markets.
Challenging environment calls for bold reforms. This was precisely what Finance Minister Nirmala Sitharaman delivered on September 20. The cut in corporate tax rates and MAT and the new manufacturing tax rate came as an unexpected shot in the arm for the economy and markets. Sensex and Nifty responded with spectacular rallies of 1921 and 529 points respectively – the best during the last 10 years.
This story is from the October 2019 edition of Destination Kerala.
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This story is from the October 2019 edition of Destination Kerala.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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