Union Finance Minister Nirmala Sitharaman will hold a meeting in Delhi with secretaries and financial advisors of key selected ministries to review the total CapEx by the ministries in 2019-20 on Friday.
The main agenda of this meeting is to discuss measures to revive the economy and push up investments.
ALSO READ: RBI hikes withdrawal limit from ₹1000 to ₹10,000 for PMC Bank customers
The discussion is also likely to be held on the future plan for CapEx in the current financial year.
CapEx refers to Capital expenditure. It is incurred when a business acquires assets that could be beneficial beyond the current tax year.
The meeting comes days after Sitharaman announced a reduction in the country’s effective corporate tax rate from around 35% to 25%. For companies that do not avail of any other incentive or commission, the effective tax rate would be just 22%.
(With ANI inputs)
For viral videos and Latest trends subscribe to NewsMobile YouTube Channel and Follow us on Instagram