Corporate tax cut to help India become a $5 trillion economy by 2024: Yogi Adityanath3Photo© timesofindia.indiatimes.com

Corporate tax cut to help India become a $5 trillion economy by 2024: Yogi Adityanath

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Terming the huge cut in corporate tax rates by the Centre early this week as a “bold” step and a pre-Diwali gift to India Inc, Chief Minister Yogi Adityanath on Sunday hoped the Rs 1.45 lakh crore tax break would help propel India into a USD 5 trillion economy and UP into a USD 1 trillion economy by 2024.

“The message behind the cut in tax rates is very clear — more wealth for and more investment by companies, creation of more jobs, high development, increase in demand and productivity, and increased income,” said Adityanath.

The chief minister exuded confidence that the Union Finance Ministry’s move will “not only enable India to become a USD 5 trillion economy by 2024 as envisaged by Prime Minister Narendra Modi but also help Uttar Pradesh to embark on the path of becoming a USD 1 trillion economy”.