Didn’t impose new taxes, focused on Capex for economic recovery, says Indian FM
By Trend
The Modi government did not introduce new taxes to fund the post-Covid economic recovery, Finance Minister Nirmala Sitharaman told the Lok Sabha, Trend reports citing The Indian Express.
Replying to the debate on the Finance Bill, which the House passed, Sitharaman said that India, instead, put the money where there would be multiplier effect and aid the post-pandemic economic recovery.
“According to an OECD report, 32 countries have increased the tax rates after the pandemic. Instead, we put more money where multiplier effect would be maximum,” she said, while referring to the Budget’s focus this year on raising capital expenditure.
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