Effect of reduction in corporate tax on steel companies

Steel

GOVERNMENT OF INDIA MINISTRY OF STEEL RAJYA SABHA UNSTARRED QUESTION NO.1279 FOR ANSWER ON 21/09/2020 EFFECT OF REDUCTION IN CORPORATE TAX ON STEEL COMPANIES 1279. DR. AMAR PATNAIK: Will the Minister of STEEL be pleased to state: (a) how the reduction in corporate tax and the tax on new manufacturing setups is helping the major steel companies; and (b) what are the direct benefits of it? ANSWER THE MINISTER OF STEEL (SHRI DHARMENDRA PRADHAN) (a)&(b): The reduction in corporate tax and tax on new manufacturing setups will make available additional resources to various companies including steel companies for improved performance and capacity expansion. It will also help attract fresh investment in various sectors including steel sector.