Government intends to simplify tax regime: Nirmala Sitharaman
Mumbai/IBNS: Neary a week after presenting her second Union Budget, Finance Minister Nirmala Sitharaman on Friday said her government intends to simplify the tax regime of the country.
"The intent of the government is to have a simplified tax regime," Sitharaman said in a press conference.
Union Finance Minister Nirmala Sitharaman on Saturday presented a budget to boost the sagging economy offering middle-class taxpayers an optional regime that vastly reduces the rates while promising to infuse big money in the farm sector and infrastructure that included the building of 100 new airports in the next few years.
She also spelled out that the government will reduce its stake in the Life Insurance Corporation (LIC) of India by selling a part of its stake through an initial public offering (IPO), as part of its disinvestment programme.
LIVE NOW📡: Press Conference by Finance Minister @nsitharaman on #Budget2020#JanJanKaBudget
— PIB in Maharashtra (@PIBMumbai) February 7, 2020
Watch on PIB's🔽
YouTube: https://t.co/9QT5VmH0H9
Facebook: https://t.co/kICzhBAHcvhttps://t.co/58wP62GnMj
Dubbing the budget as one for Aspirational India, Economic Development For All and A Caring Society, she offered a relief for the tax payers by unveiling an optional tax regime for the middle class though with some catch.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
