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The tax breaks announced by the Finance Ministry last week will help the manufacturing sector in Maharashtra, said Chief Minister Devendra Fadnavis on Monday.
Addressing the media at the BJP headquarters, Fadnavis said that reducing the corporate tax to 25 per cent and lower tax bracket of 17 per cent for new manufacturing units was a very bold decision, which will spur new investments in the State.
Such a decision would lead to a quantum jump in investments and employment generation. It will also protect the Indian economy from the vagaries of the global slowdown and provide a major edge in international trade, he said.
However, when the media persons questioned the status of the political alliance with the Shiv Sena, which needs to be formed before Assembly election, Fadnavis said that the alliance would be announced at an appropriate time. He said that that the Nationalist Congress Party of Sharad Pawar seems to be more confused over the inclusion of Prakash Ambedkar’s Vanchit Bhaujan Aghandi in the NCP- Congress alliance. On the other hand, Congress leaders were caught in infighting within the party.
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