The Seen and the Unseen - hosted by Amit Varma cover image

Ep 323: SVB, Banking and the State of the Economy

The Seen and the Unseen - hosted by Amit Varma

CHAPTER

The Importance of Corporate Taxes in India

India and China are in a unique position because they don't have these large welfare systems. A drastic cut of corporate tax rates was partly an answer to the fact which people like Ajay have documented very clearly, which is that investment in India was dropping. So it's certainly one of the policy issues over there. But there we came up against another issue, which is a fact that there's no effective demand. The twin balance sheet problem has been partially sorted out. Now companies can invest money, but they're still not doing it. And that's because another reason,. which is that the consumer doesn't have money.

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