{"id":3655,"date":"2019-09-23T00:40:48","date_gmt":"2019-09-23T00:40:48","guid":{"rendered":"https:\/\/kuvera.in\/blog\/?p=3655"},"modified":"2019-09-23T00:43:19","modified_gmt":"2019-09-23T00:43:19","slug":"tax-cut-growth","status":"publish","type":"post","link":"https:\/\/kuvera.in\/blog\/tax-cut-growth\/","title":{"rendered":"Tax cut, market rallies &#038; growth"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_40 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" area-label=\"ez-toc-toggle-icon-1\"><label for=\"item-69dcb164a5c50\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-69dcb164a5c50\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/kuvera.in\/blog\/tax-cut-growth\/#Index_Returns\" title=\"Index Returns\">Index Returns<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/kuvera.in\/blog\/tax-cut-growth\/#Top_5_best_performing_funds\" title=\"Top 5 best performing funds\">Top 5 best performing funds<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/kuvera.in\/blog\/tax-cut-growth\/#Top_5_worst_performing_funds\" title=\"Top 5 worst performing funds\">Top 5 worst performing funds<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/kuvera.in\/blog\/tax-cut-growth\/#What_Investors_Bought\" title=\"What Investors Bought\">What Investors Bought<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/kuvera.in\/blog\/tax-cut-growth\/#What_Investors_Sold\" title=\"What Investors Sold\">What Investors Sold<\/a><ul class='ez-toc-list-level-5'><li class='ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/kuvera.in\/blog\/tax-cut-growth\/#Movers_Shakers\" title=\"Movers &amp; Shakers\">Movers &amp; Shakers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/kuvera.in\/blog\/tax-cut-growth\/#Quote_of_the_week\" title=\"Quote of the week:\">Quote of the week:<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p><span style=\"font-weight: 400;\"><strong>Finance Minister, Nirmala Sitharaman announced a $20 billion tax cut<\/strong>\u00a0to reduce the effective corporate tax rate, including surcharges, to 25.17%. This move comes in addition to the RBI\u2019s interest-rate reduction to stimulate economic growth. <\/span><span style=\"font-weight: 400;\">Ms Sitharaman said that the new corporate tax rates would be <strong>&#8220;comparable with the lowest tax rates in the South Asian region and in South East Asia<\/strong>&#8220;. Further, she announced a <b>tax<\/b> rate of 15% for new manufacturing units\u00a0in the country that start\u00a0production before 2023.<\/span><\/p>\n<p>In the aftermath of this tax cut, the S&amp;P BSE Sensex and the Nifty 50 both rose ~5.32%.<\/p>\n<p><span style=\"font-weight: 400;\"><strong>There is sufficient evidence that shows that lower corporate tax rates, via a tax cut, have a direct impact on growth.<\/strong> Prof Rebello of Kelloggs and Prof Jaimovich of the University of Zurich studied the corporate tax rates in the US since 1890 and its impact on growth. They conclude that cutting the corporate tax rate spurs growth if the current rate is exceptionally high, an assertion which is true for India. Prior to the tax rate reform, we had one of the highest corporate tax rates in Asia and also globally.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter size-full wp-image-3659\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2019\/09\/CorpTaxReform.png\" alt=\"\" width=\"1042\" height=\"546\" srcset=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2019\/09\/CorpTaxReform.png 1042w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2019\/09\/CorpTaxReform-300x157.png 300w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2019\/09\/CorpTaxReform-768x402.png 768w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2019\/09\/CorpTaxReform-1024x537.png 1024w\" sizes=\"(max-width: 1042px) 100vw, 1042px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>The question remains to be seen if the finance minister will now move to a simplified and lower tax rate for individual taxpayers as well. At 7 tax slabs, the highest marginal tax rate of 42.74% and numerous exemptions, rebates, and deductions negotiated by special interest groups over decades, our individual tax code is one of the most complicated as well. A cleaning up of the tax code for the individual taxpayer will be a welcome change.<\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter size-full wp-image-3667\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2019\/09\/ChangeTaxCode.png\" alt=\"\" width=\"1096\" height=\"612\" srcset=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2019\/09\/ChangeTaxCode.png 1096w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2019\/09\/ChangeTaxCode-300x168.png 300w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2019\/09\/ChangeTaxCode-768x429.png 768w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2019\/09\/ChangeTaxCode-1024x572.png 1024w\" sizes=\"(max-width: 1096px) 100vw, 1096px\" \/><\/p>\n<p>If you feel strongly about simplifying\u00a0the individual tax code then sign our petition <a href=\"https:\/\/kuvera.us18.list-manage.com\/track\/click?u=9460ade7a36b92bd9a14f2bfd&amp;id=b77bbd4284&amp;e=34db7834b9\">here<\/a>\u00a0and spread the word!<\/p>\n<p>&nbsp;<\/p>\n<p><strong><a href=\"https:\/\/kuvera.in\/explore\/amc\/uti\" target=\"_blank\" rel=\"noopener noreferrer\">UTI Mutual Fund<\/a> has announced that the fund house has created a segregated portfolio for <a href=\"https:\/\/kuvera.in\/explore\/uti-credit-risk-growth--UTCOD2-GR\" target=\"_blank\" rel=\"noopener noreferrer\">UTI Credit Risk Fund<\/a><\/strong><span style=\"font-weight: 400;\">, following the downgrade of debt instruments of Altico Capital India. The move is targeted at preventing the distressed assets from damaging the returns generated from more liquid and better-performing assets.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Rating agency CARE downgraded Reliance Business Broadcast Network Holdings Ltd <\/strong>to D due to a delay in debt servicing. Mutual Funds have around Rs 650 crore exposure to the Reliance ADAG Group company. We have written more about <\/span><a href=\"https:\/\/kuvera.in\/blog\/ratings-downgrade-credit-risk-and-assessing-debt-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">ratings downgrade, credit risk and assessing debt funds<\/span><\/a><span style=\"font-weight: 400;\"> in our recent blog.<br \/>\n<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Global gold-backed ETFs and similar products <strong>increased their collective gold holdings by 122t to 2,733t in August<\/strong>, with total holdings 2% away from all-time highs.<br \/>\n<\/span><\/p>\n<p>&nbsp;<\/p>\n<table class=\"mcnTextBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnTextBlockOuter\">\n<tr>\n<td class=\"mcnTextBlockInner\" valign=\"top\">\n<table class=\"mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnTextContent\" valign=\"top\">\n<h4 class=\"null\"><span class=\"ez-toc-section\" id=\"Index_Returns\"><\/span><strong>Index Returns<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<table border=\"0\" width=\"585\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td width=\"303\" height=\"20\"><strong>Index<\/strong><\/td>\n<td width=\"97\"><strong>1W<\/strong><\/td>\n<td width=\"97\"><strong>1Y<\/strong><\/td>\n<td width=\"88\"><strong>3Y<\/strong><\/td>\n<\/tr>\n<tr>\n<td height=\"19\">NIFTY 50<\/td>\n<td>1.8%<\/td>\n<td>0.4%<\/td>\n<td>8.7%<\/td>\n<\/tr>\n<tr>\n<td height=\"19\">NIFTY NEXT 50<\/td>\n<td>3.6%<\/td>\n<td>-6.2%<\/td>\n<td>6.1%<\/td>\n<\/tr>\n<tr>\n<td height=\"19\">S&amp;P BSE SENSEX<\/td>\n<td>1.7%<\/td>\n<td>2.4%<\/td>\n<td>10.1%<\/td>\n<\/tr>\n<tr>\n<td height=\"19\">S&amp;P BSE SmallCap<\/td>\n<td>1.5%<\/td>\n<td>-18.6%<\/td>\n<td>1.1%<\/td>\n<\/tr>\n<tr>\n<td height=\"19\">S&amp;P BSE MidCap<\/td>\n<td>3.3%<\/td>\n<td>-11.0%<\/td>\n<td>2.5%<\/td>\n<\/tr>\n<tr>\n<td height=\"19\">NASDAQ 100<\/td>\n<td>-0.9%<\/td>\n<td>3.4%<\/td>\n<td>17.6%<\/td>\n<\/tr>\n<tr>\n<td height=\"19\">S&amp;P 500<\/td>\n<td>-0.5%<\/td>\n<td>2.1%<\/td>\n<td>11.8%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: BSE \/ NSE<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table class=\"mcnTextBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnTextBlockOuter\">\n<tr>\n<td class=\"mcnTextBlockInner\" valign=\"top\">\n<table class=\"mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnTextContent\" valign=\"top\">\n<h4 class=\"null\"><span class=\"ez-toc-section\" id=\"Top_5_best_performing_funds\"><\/span><strong>Top 5 best performing funds<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<table border=\"0\" width=\"585\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td width=\"303\" height=\"20\"><strong>Name<\/strong><\/td>\n<td width=\"97\"><strong>1W<\/strong><\/td>\n<td width=\"97\"><strong>1Y<\/strong><\/td>\n<td width=\"88\"><strong>3Y<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/kuvera.in\/explore\/canara-robeco-consumer-trends-directgrowth-growth--CACFDG-GR\">Canara Robeco Consumer Trends &#8230;<\/a><\/td>\n<td>5.2%<\/td>\n<td>8.8%<\/td>\n<td>12.3%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/kuvera.in\/explore\/motilal-oswal-midcap-30-growth--MOFMGD-GR\">Motilal Oswal Midcap 30<\/a><\/td>\n<td>5.1%<\/td>\n<td>0.5%<\/td>\n<td>4.8%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/kuvera.in\/explore\/idbi-equity-advantage-growth--TSG1-GR\">IDBI Equity Advantage<\/a><\/td>\n<td>5.0%<\/td>\n<td>-1.0%<\/td>\n<td>8.2%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/kuvera.in\/explore\/uti-india-consumer-growth--UTLSD2-GR\">UTI India Consumer<\/a><\/td>\n<td>4.8%<\/td>\n<td>-3.7%<\/td>\n<td>7.0%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/kuvera.in\/explore\/sbi-consumption-opportunities-growth--SBD033G-GR\">SBI Consumption Opportunities<\/a><\/td>\n<td>4.7%<\/td>\n<td>-3.9%<\/td>\n<td>11.2%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: Kuvera.in<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table class=\"mcnTextBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnTextBlockOuter\">\n<tr>\n<td class=\"mcnTextBlockInner\" valign=\"top\">\n<table class=\"mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnTextContent\" valign=\"top\">\n<h4 class=\"null\"><span class=\"ez-toc-section\" id=\"Top_5_worst_performing_funds\"><\/span><strong>Top 5 worst performing funds<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<table border=\"0\" width=\"585\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td width=\"303\" height=\"20\"><strong>Name<\/strong><\/td>\n<td width=\"97\"><strong>1W<\/strong><\/td>\n<td width=\"97\"><strong>1Y<\/strong><\/td>\n<td width=\"88\"><strong>3Y<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/kuvera.in\/explore\/dsp-world-gold-growth--DS758-GR\">DSP World Gold<\/a><\/td>\n<td>-2.4%<\/td>\n<td>36.3%<\/td>\n<td>-0.5%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/kuvera.in\/explore\/pgim-india-credit-risk-growth--PRCDD1-GR\">PGIM India Credit Risk<\/a><\/td>\n<td>-2.1%<\/td>\n<td>-0.6%<\/td>\n<td>4.7%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/kuvera.in\/explore\/franklin-india-feeder-franklin-european-growth-fund-growth--FT708-GR\">Franklin India Feeder Franklin Europe&#8230;<\/a><\/td>\n<td>-2.1%<\/td>\n<td>-12.8%<\/td>\n<td>3.2%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/kuvera.in\/explore\/l-t-credit-risk-growth--LT228D-GR\">L&amp;T Credit Risk<\/a><\/td>\n<td>-2.1%<\/td>\n<td>2.5%<\/td>\n<td>5.6%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/kuvera.in\/explore\/edelweiss-asean-equity-off-shore-growth--EDASD1-GR\">Edelweiss Asean Equity Off Shore<\/a><\/td>\n<td>-1.8%<\/td>\n<td>1.9%<\/td>\n<td>8.9%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: Kuvera.in<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table class=\"mcnTextBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnTextBlockOuter\">\n<tr>\n<td class=\"mcnTextBlockInner\" valign=\"top\">\n<table class=\"mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnTextContent\" valign=\"top\">\n<h4 class=\"null\"><span class=\"ez-toc-section\" id=\"What_Investors_Bought\"><\/span><strong>What Investors Bought<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>We saw the most inflows in these 5 Funds \u2013<\/p>\n<table border=\"0\" width=\"585\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td width=\"303\" height=\"20\"><strong>Name<\/strong><\/td>\n<td width=\"97\"><strong>1W<\/strong><\/td>\n<td width=\"97\"><strong>1Y<\/strong><\/td>\n<td width=\"88\"><strong>3Y<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/kuvera.in\/explore\/uti-nifty-index-growth--UTNID2-GR\">UTI Nifty Index<\/a><\/td>\n<td>1.8%<\/td>\n<td>1.5%<\/td>\n<td>9.8%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/kuvera.in\/explore\/parag-parikh-long-term-equity-growth--PP001ZG-GR\">Parag Parikh Long Term Equity<\/a><\/td>\n<td>0.6%<\/td>\n<td>3.0%<\/td>\n<td>12.3%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/kuvera.in\/explore\/mirae-asset-large-cap-growth--MAFIOD1-GR\">Mirae Asset Large Cap<\/a><\/td>\n<td>1.8%<\/td>\n<td>3.9%<\/td>\n<td>11.9%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/kuvera.in\/explore\/kotak-standard-multicap-growth--KO168D-GR\">Kotak Standard Multicap<\/a><\/td>\n<td>2.3%<\/td>\n<td>4.7%<\/td>\n<td>10.9%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/kuvera.in\/explore\/axis-bluechip-growth--AXEFDG-GR\">Axis Bluechip<\/a><\/td>\n<td>3.3%<\/td>\n<td>11.4%<\/td>\n<td>15.0%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: Kuvera.in<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table class=\"mcnTextBlock\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody class=\"mcnTextBlockOuter\">\n<tr>\n<td class=\"mcnTextBlockInner\" valign=\"top\">\n<table class=\"mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"mcnTextContent\" valign=\"top\">\n<h4 class=\"null\"><span class=\"ez-toc-section\" id=\"What_Investors_Sold\"><\/span><strong>What Investors Sold<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>We saw the most outflows in these 5 Funds \u2013<\/p>\n<table border=\"0\" width=\"585\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td width=\"303\" height=\"20\"><strong>Name<\/strong><\/td>\n<td width=\"97\"><strong>1W<\/strong><\/td>\n<td width=\"97\"><strong>1Y<\/strong><\/td>\n<td width=\"88\"><strong>3Y<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/kuvera.in\/explore\/edelweiss-arbitrage-growth--EDATDG-GR\">Edelweiss Arbitrage<\/a><\/td>\n<td>0.1%<\/td>\n<td>7.3%<\/td>\n<td>6.9%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/kuvera.in\/explore\/icici-prudential-regular-gold-saving-growth--8130-GR\">ICICI Prudential Regular Gold Saving<\/a><\/td>\n<td>-0.8%<\/td>\n<td>18.9%<\/td>\n<td>4.9%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/kuvera.in\/explore\/dsp-natural-resources-new-energy-growth--DS785-GR\">DSP Natural Resources &amp; New Energy<\/a><\/td>\n<td>-1.3%<\/td>\n<td>-16.5%<\/td>\n<td>7.2%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/kuvera.in\/explore\/l-t-infrastructure-growth--LT416D-GR\">L&amp;T Infrastructure<\/a><\/td>\n<td>2.8%<\/td>\n<td>-9.5%<\/td>\n<td>8.3%<\/td>\n<\/tr>\n<tr>\n<td width=\"303\" height=\"19\"><a href=\"https:\/\/kuvera.in\/explore\/l-t-india-value-growth--LTFIVGD-GR\">L&amp;T India Value<\/a><\/td>\n<td>1.6%<\/td>\n<td>-5.2%<\/td>\n<td>7.3%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: Kuvera.in<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h5><\/h5>\n<h5><span class=\"ez-toc-section\" id=\"Movers_Shakers\"><\/span><b>Movers &amp; Shakers<\/b><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><b>1\/<\/b><a href=\"https:\/\/kuvera.in\/explore\/amc\/franklin\" target=\"_blank\" rel=\"noopener noreferrer\"><b> Franklin Templeton Mutual Fund<\/b><\/a> <span style=\"font-weight: 400;\">has announced that <\/span><a href=\"https:\/\/kuvera.in\/explore\/franklin-india-dynamic-p-e-ratio-fund-of-fund-growth--454-GR\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Franklin India Dynamic PE Ratio Fund of Funds<\/span><\/a><span style=\"font-weight: 400;\"> would be known as Franklin India Dynamic Asset Allocation Fund of Funds, with effect from 21 October 2019.\u00a0<\/span><\/p>\n<p><b>2\/ <\/b><a href=\"https:\/\/kuvera.in\/explore\/amc\/dhfl\" target=\"_blank\" rel=\"noopener noreferrer\"><b>PGIM India Mutual Fund<\/b><\/a> <span style=\"font-weight: 400;\">has announced that Avinash Aganwal has ceased to be a Fund Manager of <\/span><a href=\"https:\/\/kuvera.in\/explore\/pgim-india-long-term-equity-growth--PRTFG1-GR\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">PGIM India Long Term Equity Fund<\/span><\/a><span style=\"font-weight: 400;\">. Srinivas Rao Ravuri, Chief Investment Officer \u2013 Equity, will take over the managerial responsibility of the scheme.<\/span><\/p>\n<p><b>3\/ <\/b><a href=\"https:\/\/kuvera.in\/explore\/amc\/principal\" target=\"_blank\" rel=\"noopener noreferrer\"><b>Principal Mutual Fund<\/b><\/a><span style=\"font-weight: 400;\"> has announced that Jane Ann Conway and Suresh Mahalingam have been appointed as Associate Director and Independent Director respectively, on the Board of Principal Asset Management Private Limited.<\/span><\/p>\n<p><b>4\/ <\/b><a href=\"https:\/\/kuvera.in\/explore\/amc\/lic\" target=\"_blank\" rel=\"noopener noreferrer\"><b>LIC Mutual Fund<\/b><\/a> <span style=\"font-weight: 400;\">has announced that Siddhartha Mohanty has been appointed as an Associate Director on the board of LIC Mutual Fund Asset Management Limited.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h5><span class=\"ez-toc-section\" id=\"Quote_of_the_week\"><\/span><strong>Quote of the week:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<blockquote><p>&nbsp;<\/p>\n<p class=\"thin-quote investor-quote\"><strong>India\u00a0is ready to attract new\u00a0manufacturing units from world over.<\/strong><\/p>\n<p class=\"thin-quote investor-quote\"><strong>: Nirmala Sitharaman<\/strong><\/p>\n<p>&nbsp;<\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<p>Start investing through a platform that brings goal planning and investing to your fingertips. Visit\u00a0<a href=\"https:\/\/www.kuvera.in\/\"><strong>kuvera.in<\/strong><\/a>\u00a0to discover\u00a0<a href=\"https:\/\/kuvera.in\/blog\/direct-plans-better\/\"><strong>Direct Plans<\/strong><\/a>\u00a0and\u00a0<a href=\"https:\/\/kuvera.in\/user\/login\"><strong>start investing today.<\/strong><\/a><\/p>\n<p>#MutualFundSahiHai, #KuveraSabseSahiHai!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Finance Minister, Nirmala Sitharaman announced a $20 billion tax cut\u00a0to reduce the effective corporate tax rate, including surcharges, to 25.17%. This move comes in addition to the RBI\u2019s interest-rate reduction to stimulate economic growth. Ms Sitharaman said that the new corporate tax rates would be &#8220;comparable with the lowest tax rates in the South Asian [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/kuvera.in\/blog\/tax-cut-growth\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":11,"featured_media":3668,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[173],"tags":[209,258,167,259,83,36,225,11,66,212,249,274,229,213],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tax cut, market rallies &amp; growth - Kuvera - Read more on Kuvera<\/title>\n<meta name=\"description\" content=\"There is sufficient evidence that shows that lower corporate tax rates, via a tax cut, have a direct impact on growth. Read more.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kuvera.in\/blog\/tax-cut-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax cut, market rallies &amp; growth - Kuvera - Read more on Kuvera\" \/>\n<meta property=\"og:description\" content=\"There is sufficient evidence that shows that lower corporate tax rates, via a tax cut, have a direct impact on growth. Read more.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kuvera.in\/blog\/tax-cut-growth\/\" \/>\n<meta property=\"og:site_name\" content=\"Kuvera\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/kuvera.in\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-23T00:40:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-09-23T00:43:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2019\/09\/TaxCutGrowth.png\" \/>\n\t<meta property=\"og:image:width\" content=\"794\" \/>\n\t<meta property=\"og:image:height\" content=\"391\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Kuvera\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Kuvera_In\" \/>\n<meta name=\"twitter:site\" content=\"@Kuvera_In\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kuvera\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Tax cut, market rallies & growth - Kuvera - Read more on Kuvera","description":"There is sufficient evidence that shows that lower corporate tax rates, via a tax cut, have a direct impact on growth. 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