• search
For Quick Alerts
For Daily Alerts

Tax rates likely to dip: Venkaiah Naidu

By Ians

New Delhi, Jan 31: Union Urban Development Minister Venkaiah Naidu on Tuesday said that with more people coming into the tax net, rates are 'automatically likely to come down'.

Talking to reporters in the national capital before the start of the Budget Session in Parliament, Naidu said that demonetisation was a radical step taken by Prime Minister Narendra Modi and that its after effects will be 'very good'.

Union urban development minister Venkaiah Naidu

"In the long term, the country will have a sound economy. More and more people are coming into the tax net. Once that happens, the revenue will increase and the tax rates are automatically are likely to come down," Naidu said.

"These are good signs for the economy and poor people and tax paying people will be more than happy," he added.

Hoping for cooperation from all political parties during the Budget Session, Naidu urged them to 'use this occasion to have a more constructive debate'.

"I hope that we will have a meaningful session... I repeat what President said: discuss, debate, decide; do not disrupt."

Asked about former prime minister Manmohan Singh's remarks about Indian economy not being in good shape, he said: "During Manmohan Singh's period, the economy was not in good shape. We have inherited fiscal deficit, revenue deficit, trade deficit, current account deficit and above all, trust deficit."

"From there, we have improved and taken the country to 7 per cent growth, lowest inflation, highest foreign exchange. What else do you require?" he added.

"Fruits of development are for the first time reaching the poor because of the pro poor developmental initiatives taken by the prime minister," he said.

Singh on Monday released a document detailing the current scenario of the Indian economy, which he said was not in good shape


For Daily Alerts
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more