We wholeheartedly congratulate the honourable Finance Minister Nirmala Sitharaman for announcing such a bold and decisive measure. This was a long-standing demand of the Indian corporates including the real estate sector. We believe the decision will go a long way in reinvigorating the manufacturing sector in particular in line with make in India initiative of the Government. With the new rate announced, India now becomes a competitive market in the region with corporate tax rate similar to that of ASEAN countries. This should lead to higher investment, thereby growth and higher employment. The real estate industry too stands to benefit from any uptick in the economy.