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FM Nirmala Sitharaman addressed five press conferences on the economic package of last week. (Photo: Amlan Paliwal)
The minister of finance, that during the last week announced an economic package to help revive the economy, it is said that the coronavirus and the blockade has affected the revenue is yet to be fully evaluated.
Marya Shakil
- CNN-News18
- Last Update: May 20, 2020, 7:31 PM IST
The Minister of finance, Nirmala Sitharaman on Wednesday poured cold water on expectations of more economic relief measures in the near future, and said that the Center does not have more announcements to make.
Sitharaman also confirmed to News18 in an exclusive interview that the Center was not looking at tax-related matters, either direct or indirect when questioned about whether there can be any reduction in the income tax.
The minister of finance, that during the last week announced an economic package to help revive the economy, it is said that the coronavirus and the blockade has affected the revenue is yet to be fully evaluated. “You can’t even think of what to give up,” she answered on the taxation of relief.
He added that only once the blockade is lifted completely and industries to reopen the assessment of more. “Currently, there is a great amount of uncertainty as we do not know how long the pandemic is here to stay.”
The government’s economic package, they had included a reduction of the tax deducted at source for the non-earners of income in 25 percent of current rates, along with the collection of taxes at the source, and also pushed back the due dates for the tax to 2019-20. But contrary to expectations, does not entail any adjustments in GST or the rates of personal income tax cuts.
The massive job cuts in both the formal, as well as of the sectors of the informal economy due to the blockade, Sitharaman said that it was the work of “local labour departments for the passage and recording of data in which all that are coming. How many jobs are required and in what sectors.”
When asked about staff reductions even after the Center of urging employers not to do so, she said that the states must hold consultations with the private sector.
Speaking of criticism for not allocating cash to the poor, Sitharaman said that the delivery of money in the hands of the poor, especially the migrants, is not the only solution and added that the government is looking for labor reforms and who is subject to the control of the parliament.
“The first message to the needy was cash distribution. The first package was the one that was immediately announced (in March) and to ensure that no one goes hungry,” he said.
Rubbishing claims that there is no lack of coordination between states with respect to labour issues, the minister of finance said that the migrant labour issues related to the responsibility of states and local bodies.
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