New Delhi, March 19 -- The Narendra Modi government has introduced the much-needed second generation reforms with several game-changing decisions over the last five years, said Finance Minister Arun Jaitley on Monday, cheering the GST introduction, saying it will increase the assessee base in the first twenty-one months of its implementation by almost eighty percent.
In the taxation reforms and black-money steps, he said the last five years will be considered momentous.
"No taxes have been increased. In fact, after 67 years of increase, tax rates have moved downwards. In a bold step, spread over five years, the income up to Rs 5 lakh has been exempt from income-tax. Even deductions available to the taxpayers have been raised to encourage ...