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Tuesday, May 27, 2014


Shri Arun Jaitley Assumes Charge as Minister of Finance 

Press Information Bureau 
Government of India
Ministry of Finance 

27-May-2014 16:32 IST

Shri Arun Jaitley Assumes Charge as Minister of Finance 

The newly appointed Union Minister of Finance, Shri Arun Jaitely assumed charge of his office here today. 

After assuming the charge, the Finance Minister was briefed on the key initiatives and policy issues by the Secretaries of the different departments of the Ministry of Finance. 

The Finance Minister also held a meeting with the senior officials of the Ministry to have a first hand information regarding the ongoing issues and the forthcoming challenges facing the Indian economy among others. 

Later during his brief media interaction, the Finance Minister Shri Jaitely said that his priorities would be to tackle inflation, boost economic growth and follow the path of fiscal consolidation among others. 


Source: PIB News

Our comment:

On 21st April 2014, The Hindu has reported that Shri Arun Jaitley demanded to raise the income tax slab from Rs. 2 Lakhs to Rs. 5 lakhs. Now Shri Jaitely is the Finance Minister. And the Central Government employees are waiting for his announcement of raising of IT ceiling to Rs. 5 lakhs. Report on this respect published by the Hindu is given below:

Bharatiya Janata Party leader Arun Jaitley on Sunday demanded that the Income Tax ceiling be raised from Rs. 2 lakh to Rs. 5 lakh, which he claimed would benefit thirty million people.
“Direct Tax should be reduced. If the Income Tax limit is raised from Rs. 2 lakhs to Rs. 5 lakhs, 3 crore people will save Rs. 24 crore which will lead to a small impact of 1 to 1.5 per cent of the National Tax Fund,” the BJP leader said.
Mr. Jaitley claimed that the Vajpayee government kept the rate of interest at 7 to 8 per cent, which Congress-led UPA raised to 13-14 per cent. “Due to this, trade and industry are running under a loss and closing down, and production has become costly.” That was why countries like China and Thailand were moving ahead of India.
“The savings of Rs. 24 crore in the pockets of ordinary person by reducing the ceiling on Income Tax will lead to increased purchase, which in turn will lead to increased VAT and Excise Duty, thereby increasing revenue,” Mr. Jaitley said.
Speaking on Amritsar’s development, Mr. Jaitley said the economy of the constituency was dependent on tourists and small businesses.


1 comment:

  1. Will the Finance Minister Mr.Jaitley announce any merger of DA or Interim Relief. 50% DA should be merged with Basic Pay w.e.f. 1.1.2011 otherwise 100% DA should be merged with Basic Pay w.e.f. 1.1.2014. Merger of DA & raising of IT ceiling is the important demands from all Central Govt. employees.

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