News Nation Logo


FinMin Arun Jaitley thanks people for support through demonetisation period, says tax collections visibly up

Finance Minister Arun Jaitley On Thursday Revealed The Government’s Health Report In A Press Conference And Thanked The People For Support Through The Difficult Time Induced By Note Ban.

News Nation Bureau | Edited By : Arshi Aggarwal | Updated on: 29 Dec 2016, 05:37:45 PM

New Delhi:

Finance Minister Arun Jaitley on Thursday revealed the government’s health report in a press conference and thanked the people for support through the difficult time induced by note ban.

The report comes on the 51st day of demonetisation and days ahead on Union Budget. 

Here are the highlights: 

#Gross direct tax collections growing at a rate of 14.4% over last year. This growth rate was only 8.3% previous year

#Remonetisation has advanced, not even a single incident of unrest reported. Things will be better than what they were in last 6 weeks or so

Till 30 Nov increase of 26.2% in central indirect tax; including increase of 43.5% in excise duty, 25.7% in service tax, 5.6% in custom duty

#What comes to banks is accountable; impact on tax collection already visible: FM Jaitley

#Not withstanding what critiques predicted, in all segments there has been significant increase in indirect taxes: FM

#Large benefits of the move are visible, what is in banks is identifiable impact on tax collection already visible: FM

#The Rabi crop sowing is 6.3% higher as compared to last year: Finance Minister Arun Jaitley

#The net increase seen on direct taxes is 13.6% : Finance Minister Arun Jaitley

#RBI has large amount of currency available, major part of currency has been replaced. More of Rs 500 notes coming in circulation: FM Jaitley

#We are extremely grateful to the people of India who supported demonetisation move: Finance Minister Arun Jaitley

For all the Latest India News, Download News Nation Android and iOS Mobile Apps.

First Published : 29 Dec 2016, 03:24:00 PM