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Vice President M Venkaiah Naidu hails govt’s decision to slash corporate tax

FE Online

Hailing the government’s decision on Friday to cut Corporate Tax, Vice President M Venkaiah Naidu said that it will stimulate the country's economic growth. To pull the economy out of the current slowdown, Finance Minister Nirmala Sitharaman had announced multiple measures ranging from slashing corporate tax rate to providing capital gains relief to foreign portfolio investors (FPIs) etc. The minister had cut the corporate tax to 25.17 per cent inclusive of all cess and surcharges for domestic companies and will be effective from the current fiscal that began on April 1.

Inaugurating the national conference on Project Management in Hyderabad, Vice President also urged the private sector to play a bigger role in nation-building activities. "Whether it's smart cities, education, healthcare or infrastructure building, I believe public-private partnerships will be the order of the day," Naidu said according to the statement issued by the Vice President’s Secretariat.

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Stressing on the significance of the project managers in the country's progress, Vice President said that the knowledge and skills of project managers would have a positive impact on the industry and the country’s economy. Naidu said that institutionalization of project management — one of the important lessons that government agencies must learn from the private sector.

Naidu highlighted the significance of the adoption of the latest technology and acquiring digital skills to ensure project managers' relevance in future jobs. "However, only technical skills will not help you grow. Develop leadership skills and business knowledge to compete with the best in the world," the Vice President added.

Naidu in his speech also included successful implementation of schemes including Swachh Bharat, Jan Dhan, Pradhan Mantri Ujwala Yojana etc., to stress the need for championing such projects and inspiring teams to work towards achieving bigger goals. "In the case of Jan Dhan Yojana, the Prime Minister championed this greatest financial inclusion program in the world," he said.