Hats off to Sitharaman for tax cut: Mazumdar-Shaw

Biocon chairperson Kiran Mazumdar-Shaw

Bengaluru,  Biocon chairperson Kiran Mazumdar-Shaw on Friday complimented Finance Minister Nirmala Sitharaman for the corporate tax rate cut, a day after a Twitter spat with her over the ban on e-cigarettes.

“Corporate Tax rate cut from 30 per cent to 25.2 per cent to spur growth. This is a great move which will firmly revive growth n investment. My hats off to FM @nsitharaman for this bold but most needed move,” tweeted Mazumdar-Shaw.

By design or coincidence, Sitharaman announced a slew of tax reliefs and incentives after Mazumdar-Shaw tweeted on Thursday “How about MoF (Ministry of Finance) announcing some fiscal measures to revive economy.”

Sitharaman announced the ban on e-cigarettes as chairperson of a group of ministers (GoM) which recommended it.

Manipal Global Education Chairman and former Infosys Director T.V. Mohandas Pai also termed the corporate tax cut historic.

“Truly historic, congrats. The corporate tax cut will give great stimulus to ‘Make in India’,” tweeted city-based Pai.