Budget not just about raising, lowering tax: Finance secretary A B Pandey

The Budget should not be seen only as an exercise where you increase or decrease taxes, but also where you provide stability of rates, says Pandey

A day after Budget presentation, Finance Secretary A B Pandey tells Dilasha Seth and Indivjal Dhasmana that the proposals for spurring economic growth by increasing capex will be susccessful. He says a road map has been laid out for the government to exit areas that it should not be in. Edited excerpts:

The Budget has imposed tax on the provident fund contribution of employees above Rs 2.5 lakh a year. Was this called for?  

The Rs 2.5 lakh contribution means that these people are earning about Rs 20 lakh per annum. We came across people who were depositing crores of rupees. So,