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.
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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