FM Jaitley says increased revenues will help bring down tax rates, slabs

Finance Minister Arun Jaitley clarified in the Lok Sabha various issues that have cropped up over the past few weeks. 

Talking about government's revenues, he said that that increased revenues of the government will help taxpayers as the government will be able to bring down tax rates and modify tax slabs as well. He said, 
India's growth can increase if 'political obstructionism' is ended."

Jaitley further said that less than 1% of the taxpayers are currently selected for scrutiny. 

Jaitley further clarified that the new Income Tax form that asked taxpayers for their foreign trips details will be simplified and new forms will be issued. He said, Very soon extremely simplified Income Tax form will be introduced." 

He said that the government has planned many more reforms and expenditures are in pipeline. 

(With agencies)