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New Delhi, September 20, 2019:
Basis the announcement on Corporate Taxation by the Hon’ble Finance Minister today, the statement on behalf of Dr. Prathap C. Reddy, Chairman, Apollo Hospitals:
“We heartily welcome the measures announced by The Hon’ble Finance Minister today. Corporate India has for long been advocating standardised rates of corporate taxation, as a tool to drive creation of investible surplus and enhanced dividend payouts to drive purchasing power.
At this time of global economic slowdown, we see this announcement as a decisive move by the Government of India to enhance competitiveness of Indian industry in the domestic and international arena.
We also welcome the initiative to give even lower levels of tax rates to new manufacturing firms. India has the potential to become the manufacturing hub for the world, and drive job creation. In healthcare, this will give a boost for the manufacture of domestic consumables and devices.
We are very grateful to the Government of India for their dynamic and flexible approach, and for being responsive to the needs of Indian industry. We assure them that we will rise to the challenge of economic growth and job creation, and do everything in our power to make the Government’s vision of GDP of 5 Trillion USD by 2025 a reality.”
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Dr. Preetha Reddy, Vice – Chairperson, Apollo Hospitals Group said, “On behalf of Corporate India, and healthcare in particular, we thank our Hon’ble Finance Minister for the decisive announcement today on standardising corporate tax rates across the board, and on providing tax incentives to encourage the formation of new manufacturing units. These measures will certainly boost capital formation in the country, at a time when we need it, to stimulate investment and job creation.
With this move, India is now well-positioned among various countries in the world as far as corporate tax structures are concerned, and we now have a tremendous opportunity to become the manufacturing hub of the world, and be extremely competitive in the world arena.
Over the last two months, the Union Government has demonstrated its commitment to unlock all tools and measures that will stimulate the economy. We will work closely with the Government to ensure that the measures translate to jobs and growth, and position India as a global bright spot in a slowing world economy.
As healthcare providers, we will continue to work with the Government on some key measures required on GST, as well as rationalising rates under Ayushman Bharat, which will help drive our collective dream of affordable healthcare for all Indians.”
healthysoch
HealthySoch
