In her budget speech, finance minister Nirmala Sitharaman said that India’s corporate tax rates were now “among the lowest in the world” and this will enable companies to expand their businesses and make fresh investments in the future

Corporate tax rates saw sharp reductions in the last two years. While the corporate tax rates have indeed come down for most companies, the rates are skewed with uneven distribution among firms. 

Steep fall

In September 2019, India’s statutory corporate tax rate was reduced to 22%, lower than the global average of 23.79%. Graph traces the corporate tax rates ov