Govt. carrying out reforms to boost economy: Piyush Goyal

TIL Desk/Business/New Delhi/ The government has carried out a number of reforms in various sectors and it is a continuous process for improvement in the economy, Commerce Minister Piyush Goyal said in the Lok Sabha on Wednesday.

He said some of the reforms were by way of amendments in various acts such as the Finance (Amendment) Bills, the Special Economic Zones (Amendment) Bill, amendments in the Goods and Services Tax Act and the Insolvency and Bankruptcy Code.

“The government has already carried out a number of reforms in various sectors and the reform process is a continuous process for improvement in the economy,” Goyal said during the Question Hour.

He said as regards reforms in the tax system, it is stated that through the Taxation Laws (Amendment) Ordinance, 2019 (the Ordinance), corporate tax rates were reduced to 22 per cent plus the applicable surcharge and cess for all domestic corporate persons not claiming any deduction or incentive.