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The government is fairly determined and introducing changes to ease the process of doing business and attracting investments to India while trying to rationalise and lower taxes, Finance Minister Arun Jaitley has said on Saturday. He also said the gross domestic product growth this year would be 7.5 per cent and hopefully higher during next year.
"We are trying to rationalise taxes, lower taxes and introduce a non-adversarial and fair system of taxation. There is a raging ideological battle between reform and obstruction. The government is fairly determined. The road map for us is very clear. We need a lot of investment and need to ease the process of doing business in India and therefore we are slowly introducing changes in that direction," he said.
While addressing a gathering of international investors on 'Investment Opportunities in India' here last night.
Jaitley stressed the new government's priority was to improve the credibility of the Indian economy. "Fiscal deficits are on the downside. There is a flurry of activities, we are correcting aberrations in taxation structure; we are concentrating on infrastructure and trying to bring about fairness in our system. The success of the auction of spectrum and coal mines have shown how corruption could be avoided and bring higher values," he said.
