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Tuesday, Oct 22, 2019

Nirmala Sitharaman to meet secretaries, financial advisors of key ministries in Delhi today

The main agenda of Nirmala Sitharaman meeting financial advisors and the secretaries is to discuss measures to revive the economy and push up investments.

india Updated: Sep 27, 2019 10:41 IST
Asian News International
Asian News International
New Delhi
The meeting with Finance minister Nirmala Sitharaman  is  likely to be held on the future plan for Capital Expenditure in the current financial year.
The meeting with Finance minister Nirmala Sitharaman is likely to be held on the future plan for Capital Expenditure in the current financial year.(PTI Photo)
         

Union Finance Minister Nirmala Sitharaman will hold a meeting in Delhi with secretaries and financial advisors of key selected ministries to review the total CapEx by the ministries in 2019-20 on Friday.

The main agenda of this meeting is to discuss measures to revive the economy and push up investments.

The discussion is also likely to be held on the future plan for CapEx in the current financial year.

CapEx refers to Capital expenditure. It is incurred when a business acquires assets that could be beneficial beyond the current tax year.

The meeting comes days after Sitharaman announced a reduction in the country’s effective corporate tax rate from around 35 per cent to 25 per cent. For companies that do not avail of any other incentive or commission, the effective tax rate would be just 22 per cent.

(The story has been published from a wire feed without any modifications to the text, only the headline has been changed)

First Published: Sep 27, 2019 10:41 IST

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