Actively working towards clean political funding: Jaitley
"When we deal with the subject of how the political system will be funded, we hope through cleaner money in future. We are actively working on this," he said here at the Delhi Economics Conclave 2017 organised by the Finance Ministry.
Finance Minister Arun Jaitley on Saturday said the government was actively working towards providing a system of clean political funding.
"When we deal with the subject of how the political system will be funded, we hope through cleaner money in future. We are actively working on this," he said here at the Delhi Economics Conclave 2017 organised by the Finance Ministry.
Jaitley said for the past 70 years, Indian democracy has been funded by "invisible money".
Demonetisation coupled with the implementation of Goods and Services Tax (GST) regime will help towards the objective by creating greater compliance and increasing digitisation, the Finance Minister said.
"Signs of increasing digitisation are already visible through expansion of direct and indirect taxpayer base," he noted.
Singapore Deputy Prime Minister Tharman Shanmugaratnam, who was also present at the Conclave, said India`s implementation of GST was impressive not only from economic but also from political perspective.
"Building political support for good economics is impressive. How invisible money, corruption are being tackled in India is impressive," Shanmugaratnam said.
He said the challenges in advanced and developing economies are similar just that the scale of India`s challenges are larger.
"There is a commonality of challenges. India is not the only democracy with the problem of invisible money," he added.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
12:20 PM IST