#NoEmploymentNoGovernment trends after FM announces tax cuts for domestic, new manufacturing companies

The government last month announced the merger of 10 public sector banks (PSBs) into four strong lenders with countrywide networks and global reach to boost credit and revive economic growth in the nation’s bid to become a five trillion dollar economy in the next five years.

Written by September 20, 2019 12:58

New Delhi: Soon after Union Finance Minister Nirmala Sitharaman on Friday announced to slash the corporate tax rates for domestic companies, #NoEmploymentNoGovernment started trending on social media.

#NoEmploymentNoGovernment: Here are the Tweets

The government last month announced the merger of 10 public sector banks (PSBs) into four strong lenders with countrywide networks and global reach to boost credit and revive economic growth in the nation’s bid to become a five trillion dollar economy in the next five years.

After this, the total number of PSBs will come down to 12 from 24 banks, Finance Minister Nirmala Sitharaman had said at a press conference on August 30.

Under the merger, Punjab National Bank, Oriental Bank of Commerce and United Bank will be merged into one entity to make the second-largest PSB with a business of Rs 17.95 lakh crore and 11,437 branches.