Finance Minister hints; discussion on Income tax cut

Dec 07 2019 05:08 PM
Finance Minister hints; discussion on Income tax cut

Finance Minister Nirmala Sitharaman has indicated that the government is considering several other measures including tax cuts to boost the economy. The Finance Minister said that his focus is on taking more and more steps to strengthen the economy. Sitharaman said in a program organized in the national capital that the tax system can be simplified. On criticism of her functioning as a finance minister, Sitharaman said that it is part of her job and that she will handle it.

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Farmers get the benefit of an increase in prices
According to a report by 'Livemint', the Finance Minister said during an event on Saturday that in relation to the skyrocketing prices of onions across the country, on many occasions the price of a commodity goes up very much but the question is whether its benefit to the farmers Is getting He said that the debate should be on whether onion prices are helping the farmers or not. He said about the agriculture sector that a lot of work is being done to boost agriculture. He said that it is being done in many ways. The Finance Minister said that despite this, the agriculture sector is suffering due to not having adequate infrastructure.

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Government's attention is on the demands of home buyers
The Finance Minister said that the government wants to ensure that the demands of home buyers can be met. In the context of non-banking finance companies, he said that the Reserve Bank is constantly monitoring his health and he is also in touch with NBFC companies.

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Insufficient recovery of cess
The Finance Minister said that the amount collected in the form of cess is not enough to pay the compensation amount of 14 percent to the states. He said that the government has worked towards streamlining GST. Describing GST as good law, he said that a big country like India needs such a tax system. He credited the implementation of GST to Prime Minister Narendra Modi and former Finance Minister Arun Jaitley.

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