Prime Minister Modi hinted more reforms especially those aimed at raising tax revenues. Speaking at a inaugural function of several infrastructure projects near Mumabai’s Bandra Kurla Complex (BKC), he renewed war against black money.
“Dishonest people, you should not underestimate the mood of 125 crore people. You will have to be afraid of it… Time has come for ruin of dishonest people. This is a cleanliness campaign,”
Just few days to the end of time line that the Prime Minister set for the eliminating cash trouble, he indicated more policies soon.
“Let me make one thing very clear: This government will continue to follow sound and prudent economic policies, to ensure that we have a bright future in the long-run.”
In a separate function, the Prime Minister inaugurated a new campus for SEBI’s National Institute of Securities Markets (NISM) at Patalganga near Mumbai. He argued for increasing the tax contribution from various market participants in a “fair, efficient and transparent way”.
Indications are that in the context of the slowing economy post demonetisation, the government is searching for some unconventional methods to balance the budget.
Several experts have predicted a tough government on the tax front in the contest of slowing tax revenues in the next budget.