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Vice President urges IRS Officer Trainees to make ethics, excellence guiding principles

ANI  |  General News 

M Venkaiah on Tuesday advised IRS trainees to make ethics and excellence as their guiding principles and to make a business friendly, entrepreneur-friendly regime and a people-centric administration.

The was addressing the 173 Trainees of the 72nd Batch of Indian Revenue Service, here on Tuesday.

Addressing the gathering here, he said, "Reforms in governance, path-breaking legislative and administrative measures like GST are changing the way we govern ourselves.

Quoting Narendra Modi's advice to all administrators on 'Reform, Perform and Transform' he said, "You have the aptitude and a unique opportunity to reform and transform our country with your performance."

Emphasising on the efforts by the central he said over the last four years, the Union Government's Budget expenditure has increased from around Rs 16 lakh crore to around Rs 28 lakh crore.

"Government's development efforts have been ably supported by the buoyant revenue collection due to efforts of Over the last four years, the Central Government's net revenue has increased from Rs 8.2 lakh crore to estimated Rs 17 lakh crore. An estimated increase of about Rs.9 lakh crore in five years is a telling example of efficiency and competence of our Revenue Officials," added

Asserting that there has been an 80 per cent increase in the tax base over last four years, he added, "A lot of transformation is taking place in the in the country to promote a culture of tax compliance. The Demonetization brought an undisclosed income of about Rs 1,30,000 crore under the tax and led to and attachment of assets worth approximately Rs 50,000 crore. Benami assets worth Rs 6,900 crore and foreign assets worth Rs 1,600 crore have been attached. As many as 3, 38, 000 shell companies have been detected and de-registered."

Saying a lot of transformation is taking place in the in the country to promote a culture of tax compliance, said that the most remarkable outcome of demonetization was the sustained growth of digital transactions leaving behind digital trail for the to follow. "As tax-authorities, you should encourage digital transactions and incentivize business to encourage their customers to adopt digital transactions," he added.

The also pointed out that the is making all efforts to make the tax regime easier.

He added, "Our effort is to make our tax regime easy, transparent and predictable. We expect you to facilitate this process of further easing the tax regime without relaxing the compliance.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 13 2019. 05:15 IST