Need bold reforms to transform economy: Arun Jaitley
Business & Finance   Wednesday, January 11, 2017 IST
Need bold reforms to transform economy: Arun Jaitley

Need bold reforms to transform economy: Arun Jaitley

New Delhi: Finance Minister Arun Jaitley on Wednesday said that striking changes are required to change economy. 
 
Talking at the eighth version of Vibrant Gujarat Summit in Gandhinagar, Jaitely stated, "India needs strong choices, time now to tidy up table." 
 
"Troublesome choices at first go through troublesome stages," he included. 
 
Jaitley said that over the top paper cash has its own indecencies, it prompts to its own enticements. 
 
Expressing that GST and demonetisation will help development, the fund serve said that its effect will be seen for the current year. Talking on the demonetisation of high esteem money notes, FM included, " After transient effect, demonetisation will prompt to cleaner and bigger GDP"

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Demonetisation: FM Jaitley dismisses slowdown concerns, says higher tax mop up indicates uptick in economic activity
Business & Finance   Tuesday, January 10, 2017 IST
 
Demonetisation: FM Jaitley dismisses slowdown concerns, says higher tax mop up indicates uptick in economic activity

Demonetisation: FM Jaitley dismisses slowdown concerns, says higher tax mop up indicates uptick in economic activity

New Delhi: Dismissing worries of log jam because of demonetisation, Finance Minister Arun Jaitley on Monday said that the circuitous and direct expense accumulations amongst April and December this year expanded by 25 percent and 12.01 percent individually contrasted with a similar period a year ago.

FM additionally said that the demonetised notes had no part to play in the duty accumulations for December as individuals were permitted to pay charges in the spiked money just in November.

Last November, Prime Minister Narendra Modi had rejected 500-and 1,000-rupee certified receipts as a component of a crackdown on duty

"The figures for direct duty accumulations up to December, 2016 demonstrate that net accumulations were at Rs. 5.53 lakh crore which is 12.01 percent more than the net accumulations for the relating time frame a year ago. The figures for circuitous expense accumulations (focal extract, benefit assessment and traditions) up to December 2016 demonstrate that net income accumulations were at Rs 6.30 lakh crore, which is 25 percent more than the net accumulations for the relating time frame a year ago," Jaitley said.

 

Key highlights of Jaitley's announcement:

Focal Excise expanded 31.6% in December 2016 when contrasted with December 2015.

In December 2016 contrasted with last December, the traditions has really declined, it is - 6.3%.

Contrasted with November 2016, the development of Indirect expense in December 2016 is 12.8%.

Coordinate charges for the initial 3 quarters has climbed, roundabout duties essentially climbed.

For most States VAT accumulations have expanded.

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