Union Budget: Manufacturing Sector Boost on Cards?

2024 • 12min • News • Business


Published On: June 27, 2024 - In a bid to boost the manufacturing sector, the Finance Ministry is likely to extend the concessional 15% corporate tax rate for new manufacturing facilities. This reduced tax rate, introduced in September 2019 to attract investments and support the ‘Make in India’ initiative, expired on 31 March this year.