Reduction of Corporate Tax, removal of Angel Tax will help promote India-US economic ties: Ex-CEA Subramanian

The Indian government has announced measures to promote India-US economic engagement, including a reduction of corporate tax from 40% to 35% and the removal of the Angel Tax. The move is seen as a strategic move to strengthen India's economy and foster inclusive development. The budget also includes provisions for capital expenditure on infrastructure, which could boost job creation. The reduction of corporate tax is expected to encourage foreign companies to establish branches and offices in India, boosting foreign inflows.