AGARTALA, Sep 20 (TIWN): When lectures of BJP leaders about fake-economic-growth, revenue hike, mirage-development are trying to impose various taxes in the poverty gripped states like Tripura and revenue hike as propaganda of BJP Govt’s achievement, Union Finance Minister Nirmala Sitaraman has announced “Tax Bonanza for the Corporates”. Under the Finance Ministry of India Tripura was promised about an “acche din”, with 50,000 jobs in first one year, 7th Pay Commission in the Vision Document which resulted giving “jumla-shocks” to the voters by massive terminations of employees, recruitment-cancellation, taxes, price hikes of electricity, fuel and the latest scrapping of free-medical-services in State Government hospitals in condition of poor by imposing Ayushman Bharat insurance upon them, which is being invested by failed private companies.

Scrapping of free medical services has affected 90% people of the state if all BPL holders are excluded.On the other side, in a major bonanza for corporates as part of measures to promote growth and investment, Finance Minister Nirmala Sitharaman on Friday announced to slash corporate tax rate to 22 per cent for domestic companies and 15 per cent for new domestic manufacturing companies, besides other fiscal reliefs.

While the capital market responded immediately and the Sensex jumped a thousand points, sceptics were also quick to doubt the efficacy of such knee-jerk policy decisions. The Finance Minister, they pointed out, had made the announcement after dragging the economy to the brink and with this announcement, has made a mockery of her own budget proposals made barely five months ago.

There are also doubts about how the hit would affect the Government’s fiscal deficit. And more blunt messages on social media wondered how rural demand will be boosted by giving corporates more tax cuts. Critics also pointed out that it was time for Indian corporate bodies to stop whining, put its act together and learn to compete globally, rather than expect the public to bail them out.

Congress leader Jairam Ramesh tweeted, “A headline-itis afflicted, panic-stricken Modi Sarkar has cut corporate tax rates less than 3 months after a Budget and 4 months before the next one. This is welcome but it is doubtful whether investment will revive. This does nothing to dispel fear that pervades in India Inc”.