Indian government contemplates reintroducing 15% tax rate for new manufacturing units and expanding PLI program to boost domestic manufacturing and jobs.
The Indian government is considering reintroducing the 15% concessional corporate tax rate for new manufacturing units and expanding the production-linked incentive (PLI) program in the upcoming Budget. The measures aim to boost domestic manufacturing, stimulate private capex, and create jobs. Final decisions will be made closer to the budget presentation, after evaluating costs and impact.
June 27, 2024
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