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Chidambaram asks Jaitley to cut indirect taxes immediately

News and Press Release - Dated:- 13-2-2017 - New Delhi, Feb 12 (PTI) Former finance minister P Chidambaram, who feels the Union Budget for 2017-18 is aimless and directionless , says the government should immediately cut indirect taxes across the board to revive the sagging economy. Demonetisation, he said, damaged India's GDP growth in 2016-17 and fears that its shadow will fall on 2017-18 and some parts of 2018-19. He also said lack of creation of jobs for the youth is a powder keg and a s .....

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opportunity at reviving the economy hit by demonetisation. That (cutting indirect taxes) is a tried and tested and proven method of boosting economy. He could have easily cut between 4-8 per cent (tax) across the board. It is only up to GST time and when GST comes, GST will take over. He had a window of about 8 months to cut indirect taxes. It would come into force from 1st of February and I don't think GST is going to come before October 1. So, he had eight full months to give a boost to e .....

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