Union Finance Minister Nirmala Sitharaman today said the government would take more steps, especially on the ‘Vivad se Vishwas’ scheme, to boost economic activities. The steps could mean tweaking some of the Budget proposals and making fresh announcements, she said in an interactive session on ‘Budget and Beyond’ organised by NITI Aayog.
Responding to several suggestions related to direct taxes, Sitharaman said the Government will come out with a non-paper on the ‘Vivad se Vishwas’ scheme that will contain all the details. The Bill for the scheme that promises amnesty for income tax disputes was to be tabled in Parliament but the government withdrew it to enable the Union Cabinet insert an amendment.
As per estimates, Rs 9.32 lakh crore is locked in litigation and the Government is going all out to ensure that as much money as is possible under the ‘Vivad se Vishwas’ scheme amnesty scheme flows to the exchequer before March 31. The Government has already informed tax officers that their performance in garnering revenue on this head will be entered in their annual appraisal reports.
The Minister’s observations come at a time when three of the seven green shoots she had detected while replying to the debate on the Budget in Parliament have turned into poor results recently.