RBI governor backs move to slash corporate tax, says it will help economy

RBI Governor Shaktikanta Das has lauded government's move to slash corporate tax and said that this will provide a boost to the economy. He said that the move makes India's tax rate very competitive and will help bring in investments. The finance minister had earlier announced the reduction of the corporate tax rate for domestic manufacturing companies from 30% to 22% and for new manufacturing firms from 25% to 15%, in a bid to revive growth in the country's slowing economy.