More tax concessions when economy improves: FM Arun Jaitley

Jul 12 2014, 19:17 IST
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Finance Minister Arun Jaitley promised more concessions in income tax when the economy improves. Reuters Finance Minister Arun Jaitley promised more concessions in income tax when the economy improves. Reuters
SummaryThe Finance Minister said had the government more money in its coffers, he would have given more reliefs.

in the Narmada river for which he would like state governments to also contribute.

He said Congress leaders were objecting may be because Patel did not belong to a particular family.

On former finance minister P Chidambaram's statement that the Budget speech was only a reiteration of Congress' government's policies and targets, Jaitley said, "I would then be very happy, if the Congress supports our budget but I know they won't support. The UPA government had left the economy in a mess."

On introduction of Goods and Services Tax (GST), he said states had reservations about getting their dues after the new levy is introduced.

"After we pay off their bills (dues of states), we will then introduce this GST. This will increase our GDP, reduce tax evasion and also reduce undue harassment to industry," he said.

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