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Budget 2016: Arun Jaitley says India needs competitive tax rates to create jobs, boost growth

Thu February 25 2016, 9:18 am
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    Budget 2016: India needs competitive tax rates to become an attractive manufacturing hub that will help create jobs and boost economic growth, Finance Minister Arun Jaitley said today at the Investiture Ceremony 2016 and Annual Central Excise Custom Day Function. (Express Photo)

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    Budget 2016: "Manufacturing is not only extremely important activity but it is one activity with its spiral effect on the economy which also creates the largest volumes of job, and a tax on that manufacturing adds to the government revenue,” Arun Jaitley said. (Express Photo)

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    Budget 2016: "In order to keep manufacturing competitive we have to keep our rates competitive and therefore have to occasionally vary those rates.... Revenue is the lifeline of governance and if governments have no adequate revenue, it becomes almost impossible for government to function,” Arun Jaitley said. (Express Photo)

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    Budget 2016: "As economies grow, not only the width of revenue grows but the expectation of people for greater level of developments, evolution of society as welfare state also grows. Manufacturing in any growing economy has a very vital role,” Arun Jaitley said. (Express Photo)

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    Budget 2016: “Because of some 'clever manufacturers' who try to avoid paying right taxes, it was necessary that the excise department remains vigilant, uses intelligence, and has a keen technological know-how with the highest level of integrity and professionalism,” Arun Jaitley said. (Express Photo)

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