Finance Minister Nirmala Sitharaman to meet secretaries, financial advisors of key ministries today

Union Finance Minister Nirmala Sitharaman will hold a meeting in Delhi with secretaries and financial advisors of key selected ministries to review the total Capital Expenditure (CapEx) by the ministries in 2019-20 on Friday.

The main agenda of this meeting is to discuss measures to revive the economy and push up investments.

The discussion is also likely to be held on the future plan for CapEx in the current financial year.

CapEx is incurred when a business acquires assets that could be beneficial beyond the current tax year.

The meeting comes days after Sitharaman announced a reduction in the country`s effective corporate tax rate from around 35 per cent to 25 per cent.

For companies that do not avail of any other incentive or commission, the effective tax rate would be just 22 per cent.