New Delhi: The Lok Sabha on Thursday passed Finance Bill, 2015, by a voice vote. The Bill contains the government’s tax proposals for the fiscal FY16.
With the land bill being stuck, Finance Minister Arun Jaitley today asked opposition to shun politics of "obstructionism" to allow growth as he announced concessions including withdrawl of service tax on social sector schemes and clarified on MAT to boost investment.
Jaitley also promised to unveil soon an "extremely simplied" Income Tax Return (ITR) form for the assesses and camps to ensure expeditious issuance of PAN cards.
He announced that many reforms and expenditure proposals are in the pipeline, which will show impact.
He also dropped the proposal to set up Public Debt Management Agency (PDMA) and transfer the power to regulate government bods from Reserve Bank to Securities and Exchange Board of India (SEBI).
Replying to a debate on the Finance Bill in Lok Sabha, Jaitley sought the cooperation of the opposition for reforms measures like Land Acquisition Bill saying the country needs to take advantage of the global situation to push growth.
