Finance Minister Arun Jaitley, on Saturday, promised more concessions in income tax if the economy improves next year. “We do not want a high taxation regime. It was because of the high taxation regime of the previous government that inflation rose,” he said, replying to questions on the budget in a TV channel show. “Had the Centre had more money in its coffers, I would have given more (relief). May be, if the government has more money tomorrow, I will raise (the concessions)”, he added.
He claimed that his was the first budget since independence in which IT exemptions were given across all ‘three taxpayers’ categories.
