Citing continual discussions with the ministry and Prime Minister's Office (PMO), Finance Minister Nirmala Nirmala Sitharaman on Friday refused to provide a timeline for announcement of a stimulus package to boost economy in the country.
"We met the Prime Minister yesterday and we shall meet again. It is not the right time to talk about any roadmap or stimulus package because discussions are still on in the (finance) ministry and PMO. When we are ready to reveal anything we will do so," Sitharaman told the media on Friday.
Elaborating on her ministry's meeting with five groups including banks, industries, SMEs, financial sector and automobile sector, Sitharaman said that their issues had been heard by the government. "We are now analyzing what steps need to be taken and yesterday met with the PM over these issues and soon we will come respond soon," she said.
On the issue of gems and jewellery sector seeking relief in gold imports, Sitharaman said that given the quantum of foreign exchange spent on the commodity, one had to look at the need to subsidise it further.
"Gold, like crude import and certain electronic, is also not a product which we have in this country. All the gold that we buy is imported. For something that is not available in this country and the quantum of foreign exchange which we pay for it, do we need to look at what we want to pay and do I subsidise such a thing?" the finance minister said.
ALSO READ: FM Sitharaman assures steps to boost liquidity, demand in realty sector
Sitharaman also said that the black money was "coming back" and that properties were "being confiscated and making it go in the market".
The finance minister was in Ahmedabad on Friday for a joint session with officials of Income Tax department, Central Goods and Services Tax (CGST) and Customs department of Gujarat. With the first being held in Ahmedabad, the minister is set to hold a series of such meetings in tier 2 cities like Mysore, Guwahati, Pune and Kanpur, along with metros among others to interact with tax officials, tax practitioners and taxpayers.
With similar joint sessions to be held in other cities, the finance minister intends to reiterate Prime Minister Narendra Modi's views on respecting and facilitating wealth creators.
"As PM says, we should respect and facilitate wealth creators. Officials should also have the facility of faceless information gathering and discussions with tax assessees through technology so that assesses do not have to be summoned in person. Through these sessions, we also want to reach out to taxpayers to inform about this technology and address issues that they are facing along with the relevant officials," she said.
"We met the Prime Minister yesterday and we shall meet again. It is not the right time to talk about any roadmap or stimulus package because discussions are still on in the (finance) ministry and PMO. When we are ready to reveal anything we will do so," Sitharaman told the media on Friday.
Elaborating on her ministry's meeting with five groups including banks, industries, SMEs, financial sector and automobile sector, Sitharaman said that their issues had been heard by the government. "We are now analyzing what steps need to be taken and yesterday met with the PM over these issues and soon we will come respond soon," she said.
On the issue of gems and jewellery sector seeking relief in gold imports, Sitharaman said that given the quantum of foreign exchange spent on the commodity, one had to look at the need to subsidise it further.
"Gold, like crude import and certain electronic, is also not a product which we have in this country. All the gold that we buy is imported. For something that is not available in this country and the quantum of foreign exchange which we pay for it, do we need to look at what we want to pay and do I subsidise such a thing?" the finance minister said.
ALSO READ: FM Sitharaman assures steps to boost liquidity, demand in realty sector
Sitharaman also said that the black money was "coming back" and that properties were "being confiscated and making it go in the market".
The finance minister was in Ahmedabad on Friday for a joint session with officials of Income Tax department, Central Goods and Services Tax (CGST) and Customs department of Gujarat. With the first being held in Ahmedabad, the minister is set to hold a series of such meetings in tier 2 cities like Mysore, Guwahati, Pune and Kanpur, along with metros among others to interact with tax officials, tax practitioners and taxpayers.
With similar joint sessions to be held in other cities, the finance minister intends to reiterate Prime Minister Narendra Modi's views on respecting and facilitating wealth creators.
"As PM says, we should respect and facilitate wealth creators. Officials should also have the facility of faceless information gathering and discussions with tax assessees through technology so that assesses do not have to be summoned in person. Through these sessions, we also want to reach out to taxpayers to inform about this technology and address issues that they are facing along with the relevant officials," she said.
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