1. Not withstanding critics’ predictions, impact of tax collection already visible, says FM Arun Jaitley

Not withstanding critics’ predictions, impact of tax collection already visible, says FM Arun Jaitley

Finance Minister Arun Jaitly, once again backing the note-ban policy, today, stated that he will not be withstanding predictions made by critics and claimed that there had been a significant increase in indirect taxes in all segment.

By: | New Delhi | Updated: December 29, 2016 4:19 PM
FM Jaitley said that the larger impact of the anti-graft-policy is visible as the cash deposited to the banks depicts the identifiable impact of tax collection. (ANI) FM Jaitley said that the larger impact of the anti-graft-policy is visible as the cash deposited to the banks depicts the identifiable impact of tax collection. (ANI)

Amid heated political controversies across the country following the cash crunch resulted due to the demonetisation policy implemented by the Narendra Modi government, Finance Minister Arun Jaitly, once again backing the note-ban policy, today, stated that he will not be withstanding predictions made by critics and claimed that there had been a significant increase in indirect taxes in all segment. The Finance Minister also clarified that the cash coming to the banks are accountable and further stated that the impact of the rigorous tax collection is already visible.

Defending the Prime Minister’s move to implement the policy putting a ban on currency notes, FM Jaitley said that the larger impact of the anti-graft-policy is visible as the cash deposited to the banks depicts the identifiable impact of tax collection. The senior Bharatiya Janata Party (BJP) MP also stated that there had been a net increase of 13.6 % on direct taxes, while the gross direct tax collection had been growing at a rate of 14.4% over the last year while the growth rate was just 8.3% in the previous year.

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Jaitley further stated that, till November 30, there had been an increse of 26.2% in central indirect tax, including 43.5 % increase in excise duty, 25.7% increase in service tax and 5.6% increase in custom duty.

There had been a heated political uproar since the implementation of the demonetisation policy on November 8, by the Prime Minister, citing the need to curb the flow of black money in the country. And amid several changes in the rules, as the last date, to submit scrapped currency notes to the banks, nears, the Finance Minister asserted that the critical days of the note-ban implementation had passed and the impact will be much better in the days ahead.

  1. S
    SUPERFEKU
    Dec 30, 2016 at 5:50 pm
    narendra modi- FEKU NO.1amit shah - FEKU NO.2arun jaitley - FEKU NO.3ravishakar prasad- FEKU NO.4nitin gadkari - FEKU NO.5FEKU jindabad, bhaiyo aur behno abhi toh 2 saal aur jhelna hai
    Reply
    1. M
      Madan K
      Dec 29, 2016 at 10:45 am
      statistics hide more than they reveal. govt shud also reveal data on loss of economic activity due to its berous move .how many wage workers lost their jobs ? how many farmers could not get fair prices for their produce shud also be investigated and why no raid on corporates? just by giving updates govt cannot absolve itself of its wrongdoing.
      Reply

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