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2017 to be year of fiscal improvement: Minister
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SME Times News Bureau | 06 May, 2017
2017 will be the year of fiscal improvement in India, Minister of State for Finance Arjun Ram Meghwal said on Friday.
Speaking
at the "India Integrated Transport and Logistics Summit" here, Meghwal
said the next big change was the implementation of the Goods and
Services (GST) Tax.
He asked people to welcome the GST and added that 165 countries had already implemented it.
"Should
India lag behind? I can assure you that under Prime Minister Narendra
Modi's leadership, the implementation of the GST won't lead to any
inconveniences," he said.
He asked the transporters and the business community to give their inputs on the draft GST rules.
Meghwal
said the government was flexible to address all concerns of various
stakeholders and added that under the GST regime, there would be no
arbitrary taxes.
The minister said the GST would lead to scrapping of most check posts and seamless transition of goods across state borders.
"We
have a tendency for resisting change. But we need to change this
tendency especially when the change is for the good of the nation.
"We
preponed the budget, merged rail budget with the Annual Budget, did
away with plan and non-plan distinction. They were all big changes and
were resisted. But did anything bad happen?
"This year will be the year of fiscal improvement," the minister said.
He said taxation today had become an issue of evasion rather than payment and this needed to change.
"People
today don't talk about paying tax but evading tax. What kind of society
have we created? Will India progress with such a society? That is why
there is a need to welcome change," he said.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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84.65 |
Euro
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75.65 |
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56.85 |
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