India’s cabinet has approved a proposal for introducing the Taxation Laws (Amendment) Bill, 2019 in the parliament to replace the September ordinance related to it that was promulgated as the parliament was not in session then. The ordinance was needed for providing additional fiscal stimulus to attract investment, generate employment and boost the economy. Economic developments after the enactment of the Finance (No. 2) Act, 2019, along with reduction of rate of corporate income tax by many countries world over necessitated the provision of additional fiscal stimulus.