AICC general secretary Jairam Ramesh said in a statement that the “fear-mongering that the outgoing Home Minister has incited in the financial markets about the Indian government” is baseless. He said the Congress Party’s track record of delivering strong and inclusive economic growth speaks for itself. “It is on record that economic growth and investment were much higher under Dr Manmohan Singh than under the Narendra Modi government. “It’s much bigger than that,” he said.
In this context, the most important contribution of the Government of India is to “remove the current environment of mistrust and fear and build a healthy ecosystem where private companies, regulators, tax authorities and governments work in a spirit of mutual cooperation. It would be ‘that’. As we wrote in the Nyay Patra manifesto, we salute you,” he said.
“We also said that ‘regulatory oversight will be based on clearly defined laws and rules and will be applied fairly and without discrimination,'” the AICC general secretary for public relations said.
“Our manifesto also commits to introducing a clear, transparent and predictable tax system. We will replace the current GST with GST 2.0, which will be a single moderate tax rate (some We will enact a direct tax law to maintain stable personal income tax rates over the next five years,” Ramesh said.
“We will eliminate the ‘angel tax’ and all other predatory tax systems that discourage investment in new MSMEs and innovative start-ups,” he said. Ramesh also said the Congress had made important announcements in its manifesto to address the Modi government’s poor track record on price rises, employment and wage stagnation, and its “total failure” on the demand side of the economy. Stated.
“We will do all this within the established principles of fiscal responsibility. “This is much lower than the fiscal deficit of 5.8% in the final year of the Modi government (2023-24),” he said. .
Tagging Ramesh’s statement and the post on X, senior Congress leader Shashi Tharoor said, “Mr. As a member of the @incIndia Manifesto Committee, I am committed to economic growth based on social justice, an end to tax terrorism that drives wealth creators out of India, and our party’s commitment to predictable and transparent economic and fiscal policy. I’m proud to confirm that. ”
