For this, she has said, that Indian government is willing to provide additional capital to Public Sector Banks (PSBs) as and when needed and that it is heartening to see how the trajectory of inflation is shifting down more favorably than anticipated.
The minister has also said that revenue mobilization would be a key element of medium-term fiscal strategy. Streamlining with e-invoicing, Goods and Services Tax (GST) audits, closer scrutiny of returns, and rate rationalization are all expected to augment GST revenues; rationalised corporate income tax rates are also expected to improve tax compliance and tax buoyancy.
Disinvestment with a focus on privatization and monetization of sovereign assets would also support the consolidation process, the finance minister said. Meanwhile, with regards to retrospective tax, Ms. Sitharaman said that the Biden administration and American leaders from the corporate sector are extremely pleased with the positive step taken towards the reform undertaken by the Indian government.
Speaking over the development, she has said, “Many of them (businesses) thought it was bold and even though it took some time to come. We have also explained that they were legal compulsions before which we had to wait because some of the litigations which were going on had to come to a logical conclusion,” Sitharaman said. Further, the finance minister has reassured that with the pandemic tensions easing, and supply conditions restored with productivity gains, a sustained easing of core inflation can be expected, which will reinforce the growth-supportive stance of monetary policy.
External Affairs Minister of India, S Jaishankar is set to visit Pakistan in mid-October to…
ICC Women’s T20 World Cup 2024 kicked off in Dubai with an exciting face-off between…
Salman Khan fans have something big to celebrate! Producer Sajid Nadiadwala has officially announced the…
Chennai will have a power cut on October 4, 2024, as reported by various news…
As part of the next phase in developing the company’s artificial intelligence, Google is to…
According to the news sources like Reuters, OpenAI has successfully raised $6.6 billion in new…
This website uses cookies.
Read More