Rohit Shishodia
Dr Prathap C Reddy, Chairman, Apollo Hospitals, has hailed the central government for the cut in corporate taxation that was announced by Finance Minister Nirmala Sitharaman in a press conference.

Dr Reddy said that corporate India has for long been advocating standardized 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,” he added.

Dr Reddy explained, “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 assure the government 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,” said Dr Reddy.