Jayant-Sinha300x260Minister of State for Finance Mr. Jayant Sinha has asked India Inc. not to evade its taxes due to the exchequer and begin to increase the tax compliance to enable the government to contain the rising fiscal deficit as also help it increase the tax GDP ratio to 20-25 per cent from existing level of less than 16 per cent.

Addressing the members of PHD Chamber of Commerce and Industry and Commodity Participants Association of India (CPAI) in New Delhi, the Minister said that with increased tax compliance the government would be able to deepen its empowerment drive and gradually do away with entitlement schemes since empowerment leads to uplift of the lot of the masses.

Mr. Sinha emphasized that the tax compliance should be fully comprehensive so that the government is able to equip all its citizens with means to earn better livelihood as it would be able to execute its empowerment measures in later and spirit and develop India on lines as are being visualized by its policy makers under the leadership of Prime Minister Mr. Narendra Modi.

The increased tax compliance would also put Indian economy on the growth path of 7 to 8 per cent that would be non-inflationary and environmentally sustainable.