<h1>Government Reviewing Proposed Tax on Cash Transactions Over Rs. 50,000; Plans to Cut Corporate Tax Rates Gradually.</h1> The government has not yet decided on implementing a Banking Cash Transaction Tax on cash transactions of Rs. 50,000 and above, as proposed by a Chief Ministers' panel. Economic Affairs Secretary indicated that the government will carefully review the panel's recommendations before making a decision. The panel, led by the Andhra Pradesh Chief Minister, suggested limiting large cash transactions to promote digitization. Additionally, the government plans to gradually reduce corporate tax rates, considering fiscal constraints. Despite global uncertainties, economic growth is expected to exceed 7% next fiscal year due to various policy measures.