Union Budget 2017: Day after, Arun Jaitley says ‘trying to reduce personal contact between taxman and taxpayer’

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Updated: February 2, 2017 11:14:04 AM

Union Budget 2017: "The subject of political funding was very close to my heart"- Arun Jaitley

FM Arun Jaitley, Budget 2017, union Budget 2017, Union Finance minister arun jaitley, nda, bjp minister, bharatiya janata partyUnion Finance Minister Arun Jaitley. Source: Reuters

Finance Minister Arun Jaitley tabled his fourth Annual Budget on February 1 in front of both the houses of the parliament. The budget was appreciated by Prime Minister Narendra Modi and he called it ‘futuristic. Heads of different companies like Anand Mahindra of Mahindra Froup, Chanda of ICICI Bank, Sudeep Sikka of Reliance Mutual Funds and other also congratulated the FM on bringing out such a historic budget.Post the presentation of Budget, FM Jaitley interacted with Industry leaders in an open house conducted by Times Now and Open Magazine. This open house was attended by industry leaders from different sectors including healthcare, etc. Arun Jaitley started the open house by saying, “Budget emphasis on policy started in 1991.”

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Here are excerpts from his conversation with the leaders-

  1. To achieve 3.2 per cent fiscal deficit is reasonably possible with this new budget. Slowly each area is getting targeted.
  2. Rural sanitation has significantly improved in last three years
  3. Foreign Investment Promotion Board (FIPB) is an institution that has fulfilled its purpose now
  4. We are trying to reduce the personal contact between the tax man and the tax payer by relying more on technology
  5. The subject of political funding was very close to my heart
  6. Now 65% percent of subsidy is going directly to the banks
  7. “In short period of 2-3 weeks, 18 lakh people identified whose deposits post demonitisation don’t match their profile income,” FM Arun Jaitley said while talking about the effects of demonetisation
  8. When asked about investment in the medical sector, he said, “The layer of accountability is very high and therefore non-spending is not a case with the Government”

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