Finance and Corporate Affairs Minister Arun Jaitley today said that the thrust of the government is to lower the tax rate and widen the tax base and keep the revenue collections moving-up. Mr Jaitley said the government is committed to facilitate trade and industry in the country so that the momentum of the growth continues to move up.
He asked the leaders of various industries to comply with the recent recommendations of the GST Council with regard to the reduction of rates of various items and pass on the benefits to the consumers. Mr Jaitley said this during a meeting with a delegation of Federation of Indian Chambers of Commerce and Industry, FICCI in New Delhi today.
The Finance Minister said the process of reforms in case of direct and indirect taxes will continue to facilitate and further expedite the process of ease of doing business in the country. He said that the Insolvency and Bankruptcy Code has brought a change in the credit culture in the country and is helping the Banking Sector in making faster recoveries.