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Tax Cut Makes Assam Investment-Friendly in ASEAN: Sarbananda Sonowal

Tax Cut Makes Assam Investment-Friendly in ASEAN: Sarbananda Sonowal

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  26 Sep 2019 3:37 AM GMT

Staff Reporter

GUWAHATI: Chief Minister Sarbananda Sonowal has said that the recent cut in corporate taxes by the Government of India is a historic step that is set to benefit Assam and other States in the Northeast. He feels that the tax cut is going to encourage the manufacturing units in the region, leading to more investment and more generation of jobs. This, he feels, will enable Assam to be an investment-friendly zone among the ASEAN (Association of South East Asian Nations).

Addressing a press conference in Guwahati on Wednesday, Sonowal thanked both Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman for cutting corporate taxes. He said that in the past few years Assam and other States in the Northeast have marched ahead. “Over the years, the Northeast had to lag behind because of neglect by the Congress governments,” he said.

On the investment front, Sonowal said, “As many as 240 memorandums of understanding (MoUs) worth Rs 80,000 crore investments in Assam were signed during the Advantage Assam. Of that amount, Rs 52,000 crore has already been invested in the State – Rs 42,000 crore in the oil sector and Rs 10,000 crore in the private sector. We hope, measures like cut in corporate taxes will boost investment in the State. So far, we’ve direct air connectivity with Bangladesh and Thailand, more ASEAN countries are in the pipeline.”

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