Finance Minister Says Budget Raises Resources Without Increased Taxation

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman stated yesterday that the latest Union Budget marks a clear directional change for the Indian economy and that directional change is not what the government has offered as a sudden response, but it was something that was preoccupying the Indian minds for over 30 years. Addressing the FICCI's National Executive Committee Meeting, via video conferencing, Sitharaman said that the budget is trying to raise resources which are non-tax resources at a time when we need a lot of money to spend. It's a budget which raises resources but not on the back of increased taxation. There is a directional change in the budget which is so distinct that it will fuel the entrepreneurial spirit which the Indians show given the right opportunities. Finance Minister further added that that revenue generation will improve through this year. Sitharaman also urged the industry to come forward to make investments.

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