Finance Minister Arun Jaitley calls for reforms at municipal levels for ease of doing business
BHILAI : Union Finance Minister Arun Jaitley on Sunday called for reforms at municipal and panchayat levels to match with the efforts of centre and states for ease of doing business.
Speaking at a seminar in Bhilai on “State economic reforms: The way ahead”, organised by Chhattisgarh government, confederation of Indian industry and Chhattisgarh Chamber of Commerce and Industry, he said both the centre and state have already initiated many steps in this direction but the initiative has to percolate down to civic bodies as well.
Jaitley said reforms in taxation is inevitable for development and introduction of Goods and Services Tax (GST) is a major steps towards this direction. He said this would help country’s economy with global market.Speaking about the challenges ahead, the union minister said our infrastructure like roads airports needs to be upgraded to world class standards.
He said there is also a need to reduce non-performing assets (NPA) of public sector banks. Jaitley said businessmen have to develop a habit of paying tax, instead of saving tax, so that it could help contribute towards development.Despite global recessionary trends, the union minister said, India over the last two years has emerged as one of the fastest growing economy.
