Union Finance Minister Arun Jaitley addressed the 31st annual Conference of Principal Chief Commissioners of the Income Tax Department, in New Delhi today. He said that the Government has to bring the Indian tax rate to the global level while at the same time removing tax exemptions.
“We expect 14-15 percent growth in direct tax collections this fiscal. The Government’s high expenditure can be met only with higher tax collections” he said. The direct tax collections increased by 9 percent in FY 2015 despite the slowing economy, Jaitley said.
