{"id":41662,"date":"2017-01-29T00:05:12","date_gmt":"2017-01-29T00:05:12","guid":{"rendered":"http:\/\/151.106.38.4\/2017\/01\/29\/cut-indirect-tax-rates-not-direct-ones-chidambaram\/"},"modified":"2017-01-29T00:05:12","modified_gmt":"2017-01-29T00:05:12","slug":"cut-indirect-tax-rates-not-direct-ones-chidambaram","status":"publish","type":"post","link":"https:\/\/nagalandpost.net\/index.php\/2017\/01\/29\/cut-indirect-tax-rates-not-direct-ones-chidambaram\/","title":{"rendered":"Cut indirect tax rates, not direct ones: Chidambaram"},"content":{"rendered":"<p><img src=\/old_site\/><\/p>\n<div>In view of the \u201csufferings\u201d of the common people resulting from demonetisation, former Union Finance Minister P. Chidambaram on Saturday suggested that the Centre should cut indirect tax rates to mitigate the hardships people are facing now.<\/div>\n<div>Chidambaram said: \u201cThe correct tax to cut is the indirect taxes. You should cut service tax, excise and customs duty. Any cut in the indirect taxes will benefit millions of people.\u201d&nbsp;<\/div>\n<div>\u201cA direct tax cut will only benefit a very small number of people &#8211; not more than 25-50 lakhs of people. Indirect tax cut will benefit crores of people in the country and stimulate the economy,\u201d he said.<\/div>\n<div>\u201cWhat you have to do now is alleviate sufferings and misery of the masses of this country,\u201d he said adding that demonetisation has hit the economy by at least one per cent of the GDP.&nbsp;<\/div>\n<div>He suggested that the present government must stick to the path of fiscal consolidation which means the fiscal deficit must be less than three per cent.&nbsp;<\/div>\n<div>\u201cCurrent account deficit must be 1-1.5 per cent and CPI inflation must be below five per cent. Fiscal stability is very important. Are we going to deviate from the path of fiscal consolidation and fiscal prudence?,\u201d he asked.<\/div>\n<div>\u201cIf I was the Finance Minister today, I would have cut indirect taxes,\u201d he said.<\/div>\n<div>Investments have been hit due to demonetisation and wide spread accesses of tax enforcement departments, he added.<\/div>\n<div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In view of the \u201csufferings\u201d of the common people resulting from demonetisation, former Union Finance Minister P. Chidambaram on Saturday suggested that the Centre should cut indirect tax rates to mitigate the hardships people are facing now. Chidambaram said: \u201cThe correct tax to cut is the indirect taxes. You should cut service tax, excise and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-41662","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/41662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/comments?post=41662"}],"version-history":[{"count":0,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/41662\/revisions"}],"wp:attachment":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media?parent=41662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/categories?post=41662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/tags?post=41662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}