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India Needs Lower Tax Levels to be Globally Competitive: Jaitley

What you need is lower level of taxation, to provide services more competitive in nature. Competition is not domestic, it is global. There is a need to lower level of taxation as we broad base economy. This is one important change you will witness while you will be in service. Extraordinary high taxation rates in the past have led to higher tax evasions, the Finance Minister added. he had expressed hope that demonetisation will help increase government revenue and lower fiscal deficit, leading to higher expenditure on defence and rural infrastructure.

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