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No contradiction in being pro-business, pro-poor, says Arun Jaitley's latest Facebook update

Monday, 18 August 2014 - 4:34pm IST | Place: New Delhi | Agency: PTI

Finance Minister Arun Jaitley today changed the cover photo on his Facebook profile and added a new slogan saying there is no contradiction between being "pro-business and pro-poor".

"Unless government gets revenue, it cannot build infrastructure and service the welfare schemes for the poor. By being pro-business and pro-poor, I am not contradicting but both have to exist at the same time," read his new updated Facebook cover photo.

 

Replying to a debate on Budget 2014-15 in Parliament in July, Jaitley had said government wanted to be both pro-business and pro-poor by bringing in civility in tax regime, maintaining low rates, rationalising subsidy system and boosting infrastructure and housing.

He said that being pro-business was necessary for generating more revenues and increasing spending that would benefit the poor and marginalised sections of the society through social sector programmes. He also promised to take a series of steps besides the Budgetary provisions for sustainable growth amid indications of some recovery.

He stressed that being pro-business and pro-poor were not contradictory and the country needs investment to strengthen the economy.

Jaitley also said he preferred low taxes to encourage economic activity. "If you put higher taxes on products, people will buy products from outside. Lower taxes will increase economic activities," he had said in the Parliament. 




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