Union Finance Minister Arun Jaitley yesterday stated that those citizens who demand nation's development need to pay what is required of them including their money needs to be spent honestly.
Jaitley during Valedictory Address at National Academy of Customs Excise and Narcotics (NACIN) Founding Day and Passing-out Ceremony of the 67th Batch of Indian Revenue Services (IRS) officers (C and CE) stated that revenue is the lifeline of governance because revenue will help in making India as a developed economy from a developing economy.
"In a society which did not conventionally mind being a non-tax complaint one, people are realizing the virtues of compliance which comes with the passage of time. This is the reason for tax integration. Once the change is established, we will have scope and space for improvement. And once we become revenue neutral, we need to think of better reforms," during his speech he further said.
"India is going through indirect taxation at a time when the economy is growing. Direct tax is paid by the more affluent sections, while indirect tax is a burden on all. This is why, in our fiscal policy, we try to make sure that basic commodities are least taxed," he said.
However, Finance Minister Arun Jaitley has advised the batch that they must maintain proper conduct and credibility, and ensure fairness in all orders with a thorough approach.
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