The corporate income tax breaks make up a relatively small part of $80 billion in business giveaways.
From parity in 1980, China's economy has outgrown India's fivefold to $10 trillion
The RBI cut the rate several times last year to reduce it by 125 basis points to the current 6.75 percent.
India should not loosen its fiscal deficit targets in the forthcoming budget, Prime Minister Narendra Modi's top economic adviser Arvind Panagariya said.
The Indian government will present the annual budget for 2016-17 on February 29.
Retail food inflation in December came in at 6.40 per cent.
Yuan's fall would worsen India's trade deficit with China.
Urjit Patel's reappointment will raise market hopes that Rajan, will also be offered an extension when his tenure ends in September.
Fiscal outlook to be little bit challenging next year: CEA
Trade ministers from 162 WTO countries will gather in Kenya's capital from Dec. 15-18 to work on an agreement to liberalise global trade.
RBI's tricky strategy to ease market's pre-Fed jitters.
RBI may hold rates steady as economic parametes are going strong, say experts.
Only 400 grams have been deposited so far.
India's overall retail inflation eased to 4.41 per cent in September, helped by falling commodity prices, but rural inflation was at 5.05 per cent
The Reserve Bank of India Governor Raghuram Rajan said bringing down inflation would help stabilise the rupee.
Corporate tax is likely to be cut to 24%.
After making a larger-than-expected cut of 50 basis points on September 29, Rajan urged the federal government to do its bit to accelerate growth through structural reforms.
India was less directly affected by the Chinese stock market rout and yuan devaluation that battered currencies and markets in the region.
Although the RBI is not statutorily independent from the government, Rajan, like previous RBI Governors, has long valued his independence.
RBI Governor Raghuram Rajan is expected to express that cautiousness as he looks to manage expectations.
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