Janjivan Bureau
New Delhi: Finance Minister Arun Jaitley on Sunday said the government does not plan to impose a long-term capital gains tax, a day after Prime Minister Narendra Modi suggested that people earning from financial markets must make a “fair contribution” to nation building.
Modi’s comments were interpreted by some local media as a pitch for higher taxes on income from capital markets.
But Jaitley said Modi’s speech had been misinterpreted.
“I wish to absolutely clarify that there is no occasion or opportunity for anybody to reach such a conclusion because this is not what the prime minister said,” Jaitley told reporters in New Delhi.
“Nor is it the intention of the government as has been reported in a section of the media itself.”
Modi on Saturday told an event organised by India’s capital markets regulator that his government would continue to follow sound and prudent economic policies.
Finance Minister Arun Jaitley clarifed the PM Narendra Modi’s views on shrtage of currency in India. FM says in Digi-Dhan Mela that PM’s speech yesterday with regard to all sections including market players contributing to the national exchequer the speech has been misinterpreted in some parts of media.This interpretation is absolutely erroneous, PM had made no such statement directly or indirectly.
As PM said there will be some problems in the start but when money comes into banking system the economy becomes strengthened.
“There is no opportunity for anybody to reach such a conclusion because this is not what the PM said nor is it intention of Govt as reported”Jaitley said.
Lucky Grahak Yojna’s first lucky draw in process at Digi-Dhan Mela.
He said If people had to buy property it was asked that how much will be paid in cash and how much by cheque. Such immoral practices prevailed.
Quoting Bill Gates Jaitley said Gates told me that here more than 100 Cr have mobile phones, 109 Cr have Aadhar cards, digital economy will boom in India. I can assure with such initiatives we will have a better nation,a better and cleaner economy in future.
From counterfeit currency to terrorism everything is a result of heavy dependence on cash economy.
From a time when 1% population had mobile phones, in 20 years it has now come to more than 90% in India. Adhar based payment is for people who don’t have cards or mobile phones,they only need thumb print for transactions.
Our bid to go cashless means less cash not no cash,but our political counterparts are slow in understanding this and so is some of the media.
We communicated with many nations regarding information about Indians who have black money stashed overseas. If people had to buy property it was asked that how much will be paid in cash and how much by cheque. Such immoral practices prevailed.
