Taxes putting pressure on investment in India – RBI’s Patel
Reserve Bank of India leaves interest rates on hold, expressing concerns about latest budget
India’s investment-to-GDP ratio is being negatively affected by numerous taxes on capital, the nation’s central bank governor has said.
Speaking at a press conference following the Reserve Bank of India’s latest monetary policy decision today (February 7), Urjit Patel said several sources of taxation on capital meant the impacts were “adding up”.
“On the back of the envelope: you have a corporate tax rate; you have a dividend distribution tax rate; for dividend income above 10 lakh rupees [$15
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