Upcoming Budget to further simplify tax policies: MoS Finance

The forthcoming Budget would have provisions that would lead to further simplification of tax administration and tax dispensation of both direct and indirect taxes, Minister of State for Finance, Arjun Ram Meghwal said.

The move would enable business community to render their transaction smoothly and effectively, he said.

He also said that demonetization move of the NDA government as a step that would severely attack the menace of cross-border terrorism and its funding besides substantially reducing the threat of rising black money.

"Tax administration and tax policies need to be further simplified to promote ease of doing business as well as its facilitation. The forthcoming Budget would reflect and adequately cater to this effect", he said at an event organised by PHD Chamber.

The government of the day is committed to eliminate corruption and red tape, he added.

The decision to demonetize the Rs.500 and Rs.1,000 notes is one such step in this direction and many more such moves would follow as Prime Minister Mr. Modi is determined to purge the system from all its ailments, he said.