Demonetisation, GST led to expansion of tax collections: Arun Jaitley
The tax payer base, tax collection and digitization of the economy were expanding, as a result, he added.
Chennai: Lauding Prime Minister Narendra Modi for his bold decision on enforcing the demonetisation, Union Finance Minister Arun Jaitley has asserted that the initiatives like the demonetisation and GST have “saved the country.”
The tax payer base, tax collection and digitization of the economy were expanding, as a result, he added.
He said only the Prime Minister has the courage to take such bold decisions. “By taking such decisions, the BJP has saved the country.. the tax payer base, tax collections and digitisation of the economy are expanding, thanks to a slew of measures taken by the Central government headed by Mr Modi,” the finance minister said while speaking at the 48th annual readers' meet of Tamil magazine Thuglaq here on Sunday evening.
Due to efforts like demonetisation and introduction of GST and other measures, tax evasion has reduced. “Steps to eradicate black money and the demonetisation of Rs 500 and Rs 1,000 currency notes was one of the difficult decisions taken by Prime Minister Narendra Modi,” he said. Claiming that honest tax payer was forced to pay higher taxes due to tax evaders, Mr Jaitley said once the tax payer base expands, the tax rate would come down.
Tax evaders, he said, have now understood that evasion cannot be done. He also said that a decision on holding simultaneous polls to Parliament and Assembly in all states would be taken soon.
