Arun Jaitley Suggests Time Has Come For India To Have Lower Level Of Taxation

India will have to move to a lower level of taxation in order to be globally competitive, Finance Minister Arun Jaitley, has urged.

“What you need is lower level of taxation, to provide services more competitive in nature. Competition is not domestic, it is global,” he said, while speaking at the inaugural ceremony of the sixty-eighth batch of IRS (C&CE) officers.

Remarking on the culture of tax evasion in Indian society, Jaitley said, the days of evading taxes and not suffering consequences are over-

“We've lived through the last seven decades in India under the impression that if avoidance (of taxes) could be done, there wasn't anything immoral. It was considered as commercial smartness. Some people were visited with very serious consequences.”