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| ‘No changes in tax rates for direct, indirect taxes’ | | |  NEW DELHI, Feb 1: Finance Minister Nirmala Sitharaman on Thursday said there are no changes in tax rates for direct and indirect taxes, including import duties.
She also said the number of tax filers has swollen 2.4 times and the direct tax collection has trebled since 2014.
The processing time of tax returns has been reduced from 93 days in FY14 to 10 days; and refunds have been made faster, she said.
The government continues to be on the path of fiscal consolidation to reduce fiscal deficit to 4.5 pc in 2025-26.
She added that the tax base of Goods and Services Tax (GST) has more than doubled since FY14.
Housing scheme on cards for deserving middle class
The Finance Minister said that the government would launch a housing scheme for deserving middle class to buy or build their own houses.
Sitharaman said the government will also adopt an economic approach that facilitates sustainable development and improves productivity.
She also mentioned about rooftop solarisation to ensure one crore household free electricity of up to 300 units per month, leading to household savings of ₹15,000-18,000 annually.
The finance minister said the government will set up more medical colleges, utilising existing hospital infrastructure.
Besides, utmost attention will be paid to the development of the eastern region and its people. |
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