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    Healthcare industry lauds Govt decision, says rationalisation of tax structure will provide booster dose to sector

    GarimaWritten by Garima Published On 2019-09-22T09:20:02+05:30  |  Updated On 22 Sept 2019 9:20 AM IST
    Healthcare industry lauds Govt decision, says rationalisation of tax structure will provide booster dose to sector

    Apollo Hospitals Chairman Prathap C Reddy said, "We heartily welcome the measures announced by the honourable Finance Minister today. Corporate India has for long been advocating standardised rates of corporate taxation, as a tool to drive the creation of investible surplus and enhanced dividend payouts to drive purchasing power".


    New Delhi: Healthcare industry on Friday welcomed the government's decision to slash corporate tax, and said rationalisation of tax structure will provide much-awaited booster dose to the sector.


    In a major fiscal booster, the government on Friday slashed effective corporate tax to 25.17 per cent inclusive of all cess and surcharges for domestic companies.


    "Reduction in corporate tax and other relief would create a favourable business climate for the companies which were under tremendous pressure due to several internal and external market forces," Nathealth President H Sudarshan Ballal said.


    The apex healthcare industry body believes that the corporate tax reduction move would be supplemented by the Goods and Services Tax (GST) reforms as well.


    Apollo Hospitals Chairman Prathap C Reddy said, "We heartily welcome the measures announced by the honourable Finance Minister today. Corporate India has for long been advocating standardised rates of corporate taxation, as a tool to drive the creation of investible surplus and enhanced dividend payouts to drive purchasing power".


    The initiative to give even lower levels of tax rates to new manufacturing firms is also a welcome move. India has the potential to become the manufacturing hub for the world and drive job creation. In healthcare, this will give a boost for the manufacturing of domestic consumables and devices, he added.


    Also Read: Indian pharma industry may achieve double-digit growth by 2030 via regulatory support from Government, says pharma industry body

    ApolloApollo Hospitalcorporate indiacorporate taxEconomy of Indiagoods n services taxgovt of indiaGSTHealthcarehealthcare industry indiaIndian economyindian finance ministerNATHEALTHNirmala SitharamanPrathap C ReddyTax
    Source : PTI

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    Garima
    Garima

      Garima joined Medical Dialogues in the year 2017 and is currently working as a Senior Editor. She looks after all the Healthcare news pertaining to Medico-legal cases, MCI/DCI decisions, Medical Education issues, government policies as well as all the news and updates concerning Medical and Dental Colleges in India. She is a graduate from Delhi University. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751 To know about our editorial team click here

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