Going forward, as tax revenues significantly increase, India will have GST slabs of 0 per cent, 5 per cent and a standard rate between 12-18 per cent for commonly-used items, Finance Minister Arun Jaitley said Monday. Luxury and sin goods will, however, continue to be taxed in a higher bracket. In a Facebook post titled Eighteen Months of GST’, Jaitley said, of the 1,216 commodities which are used, broadly 183 […]

Arun Jaitley in his blog today attacked opposition and others who are targeting government over the rise of deposit by Indians in Swiss National Bank (SNB). “A news item has appeared today indicating an increase of money by ‘Indians’ in the Swiss banking system. This has led to misinformed reaction in certain circles raising a query whether the Government’s anti-black money steps have yielded results”, he wrote. “To assume that […]

Reacting to the country’s biggest ever bank fraud, Finance Minister Arun Jaitley on Tuesday said that the PNB scam of Rs 11,400 crore involving billionaire jeweler Nirav Modi was a result of failure of management and auditors, adding that the government will chasw down those who cheat the banking system. “When authority is given to the managements then you are expected to utilize authority effectively and in the right manner […]

Finance Minister Arun Jaitley says India’s growth is “reasonable” Finance Minister Arun Jaitley on Thursday played down the impact on economic growth of the government’s decision last November to scrap most of the cash in circulation, saying the annual rate of growth was “very reasonable”. “Through demonetisation, the government created a new normal, with a big step in removing the earlier scenario of cash economy and shadow economy,” Mr. Jaitley […]