Pro-business is Not Against the Poor, and There is no Contradiction: Arun Jaitley

Pro-business is Not Against the Poor, and There is no Contradiction: Arun Jaitley

   New Delhi : Narendoramodi government claims not only on a professional business, and was on the poor, and suffer Finance Minister Arun Jaitley as the "political paralysis", while promising round, and discourage investors and indulge in "tax terrorism" because you, a step further criticism, you can get it from recession long and revive the economy of India UPA regime before.

Jaitley is also, to keep the lid on taxes in the budget, and the moderation of inflation, and said he expects much more than just pointing out that she had early signs of recovery, it cut interest rates was told it was.

Is in the House of Representatives on Friday: "We said to be a professional work is a person. We do not have the contradiction that is the business professional, the parent company, it is probably poor," and I said to respond to the discussion of the first budget of the new government. "If you have to stop commercial activities, you can, does not have enough resources to provide the service only and bad, in fact this country as if they were concerned about" the Union's budget for the celebration, which was the completion of the first stage of the consideration of the Congress after it has been approved by the Council of Representatives.

Considerations of the second phase, it requires a discussion of demand for grants Following the approval of the Finance Act.

The finance minister said, that the fact that for "civility", and trying to restore the confidence of local and foreign investors in the tax system is a new government. He said investors in the past few years, he developed the "question" by virtue of the change retroactively to the law on the India story against the backdrop of a tax system cannot be predicted.

It is expected to discuss the bill only financial mitigate any change to the tax regime for investors in debt mutual funds in the short term in response Jaitley.

To revive growth, Jaitley is, some of the measures and the budget and suggests that some of the disappointment of the quarter did not justify the latter, the government announced on July 10, she will be taken away.

There are a series of steps that "we must take. Budget, and some of these steps. Was a trend. It only shows the trend.

There will be a number of steps that will be taken out of the budget. To say is this, that there is a need to strengthen this industry, it is, and allowing foreign direct investment up to 49% and insurance defense minister them, and "do not need to have been published in every budget, was to justify the measures announced in the budget in order to attract investment private. production, it will lead to job creation and thus voyeur.

There are people who oppose the idea of ​​foreign direct investment in defense by 49%. "Do you understand the discrepancy cannot be ... Today, we have a" defense "in the hands of their status ... Them is that you have purchased from foreign governments and foreign companies will be able to stop the show. Said he needed to build and , "Yes, and similarly, there is a need to invest in the field of insurance capacity to finance the hungry, he said, especially with health insurance, and we are.

He said to protect the budget that he was different fundamentally from the previous administration in many ways the approach.

"The approach is completely consistent that this is" the difference is that it is in the budget and we do not increase taxes. "You can put a higher tax on the product, people will buy the product from abroad, and said economic activity has" increased the tax cuts.

He also expressed the hope that the interest rate Jaitley is softened with moderate inflation. "I hope down the interest rates for the high rate of inflation," he said and added. And inflation fell in June, even though the Reserve Bank of India, there are times when it is not enough in order to facilitate the interest rates in the monetary policy announcement from the 5 August

He pointed out signs of optimism, the Minister of Finance, - export such a slight improvement from the various economic parameters, and the industrial sector, according to data from recent capital flows. According to him, this cannot be a "trend" and referred to the early signs of recovery.

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