Lok Sabha passes Finance Bill

Amidst demands for roll-backs in kerosene prices, fertiliser prices and tax cuts, Finance Minister Yashwant Sinha on Monday managed to get t...

Amidst demands for roll-backs in kerosene prices, fertiliser prices and tax cuts, Finance Minister Yashwant Sinha on Monday managed to get the Finance Bill passed in the Lok Sabha.

In his reply at the end of a two-day discussion on the Finance Bill, Sinha said that the tax slabs suggested in his Budget for 2002-03 were moderate at 10, 20 and 30 per cent personal tax rates which were necessary to provide ‘‘stability’’ and revenue generation.

On the demand for rollback of the 5 per cent national security surcharge, Sinha said it had been necessitated due to troops mobilisation at the borders and that on such issues, wrong signals should not be sent by creating an impression that the house was not united.

Refuting the criticism of the Opposition and the media labelling him as a rollback Finance Minister, Sinha quoted statistics to say that in the last 10 years every Finance Minister had brought in amendments to clauses in the Finance Bill and in percentage terms his record was no worse.

In Odisha, Modi mounts ‘loot tantra-vs-bachat utsav’ attack on Congress over GST

India4 hr ago

Prime Minister Narendra Modi Saturday hailed the revised Goods and Services Tax (GST) structures, saying the era of “double bachat (saving) and double kamai (income)” has arrived under the Bharatiya Janata Party rule. Addressing the ' Namo Yuva Samabesh' in Jharsuguda, Modi accused the Congress of indulging in “loot tantra (tactics)” while in power.

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