Arun Jaitley on note ban: Tax collection up, more new notes of Rs 500 soon

[Optimus_Prime]

NEW DELHI: Finance minister Arun Jaitley on Thursday said that remonetisation has advance substantially and the RBI has a large amount of currency available with it.
"A large part of the demonetised currency has been replaced and more new notes of Rs 500 are being released for the circulation," Arun Jaitley said today.

Jaitley thanked people for supporting demonetisation and said that not a single incident of unrest has been reported over junked notes of Rs 500 and Rs 1,000.
The finance minister said that large benefits of the demonetisation move are visible now and there is identifiable impact on tax collection already.
"Notwithstanding what critics predicted, there has been a significant increase in tax collection in all segments," Jaitley said.
"Till December 19, direct tax mop-up rose 14.4%, indirect tax grew 26.2%, central excise is up 43.3%," he said.
Jaitley said that "critical part of remonetisation is now behind us and it will be much better, going forward."

Arun Jaitley: Arun Jaitley on note ban: Tax collection up, more new notes of Rs 500 soon

 

[Sarkar]

Needs to be done more when there are more 25 lakhs car buyers per year but only only 24 Lakh people hv income greater than 10 lakhs in India

http://m.economictimes.com/news/politics-and-nation/24-lakh-people-have-income-above-rs-10-lakh-but-25-lakh-cars-bought-every-year/articleshow/56201138.cms

 

[avatar]

For the first time in my life, I got to know there's a word called demonetization only after this govt implementation. When I read this article, I noticed a word called remonetisation. I thought it's different term and it's having different meaning.. Thankfully, it's just a typo..


Now, I hope this govt relaxes the tax slab by Jan month itself. Most of the working class people would forget this demonetization issues, if they could increase the slab limit