Faced with a slowing economy, Modi government’s single biggest response was to deeply cut corporate tax rates from 30% to 22%. Announced triumphantly by Finance Minister Nirmala Sitharaman on September 20 last year, this was applauded heartily by the corporate bigwigs and many economists who believe that a freer hand should be given to the “wealth creators” to go about their business.

https://www.newsclick.in/Tax-Cut-Gave-Rs-61%2C000-Crore-Bonanza-to-Corporate-Houses