Designating reduction in Corporate Taxes as a masterstrokeby Modi government, Jugal Kishore Sharma, Member of Parliament fromJammu-Poonch Parliamentary Constituency said that it will also stimulate growthand development in all the three regions of Jammu, Kashmir and Ladakhparticularly giving a major boost to tourism sector.

Jugal Kishore Sharma, flanked by BJP State InchargeMembership Drive Jugal Dogra and BJP District President & Chairman JMCBaldev Singh Billawaria expressed gratitude towards Prime Minister NarendraModi and the Union Finance Minister Nirmala Sitharaman, while addressing mediapersons at party headquarter, Trikuta Nagar, Jammu.

Jugal Kishore Sharma, while addressing the media persons,designated the present reduction in Corporate Taxes as a masterstroke by Modigovernment and said that it is perfectly timed to boost the economy of theNation by providing benefit to the corporate sector which will ultimately betransferred to the common masses. This step will also help the tourism and theallied industry in the regions of regions of Jammu, Kashmir and Ladakh, heclaimed.

Jugal termed this reduction as the historic step by Centralgovernment, which is being admired by all the sections. He said that this stepwill boost the economy. He said that the Tax rebate will benefit the industriesand Corporate sectors especially newly originating set ups. He said that thismove will attract the companies from all over the world, as they will preferIndia for their investment plans in comparison to other Nations. He said thatthis move has particularly benefitted the hotel industry with tax % reductionacross all the slabs for renting out room. He mentioned the reduction of GST inthe catering sector. He talked of tax reduction in diamond job works,witnessing 1.5% from previous 5% and numerous such steps. New jobs will becreated by this move and also the consumers will be getting the goods at thecheaper rates leading to the improvement in the social living scenarios ofcommon masses, he added. Jugal added that tax on the procurement of Electricalvehicles is reduced to 5% from 12% to promote green energy and reducepollution. He said that tax has been reduced in passenger vehicles segment.Interest rates for start-up loan are being reduced along with the interestrates on loans for constructing houses. He mentioned that huge amount to thetune of 70,000 Crore rupees has been provided to the banks for providing easyloans to corporate, small traders, small scale industries and retailers. Hedisclosed that many steps are taken to improve banking sector like mergers,decrease in NPAs, working on Repo and reverse Repo rates etc.