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Prez emphasies need of simplifying taxation procedure

Prez emphasies need of simplifying taxation procedure

New Delhi, Jun 20 (UNI) President Ram Nath Kovind said on Thursday emphasized the need of further simplifying the process of taxation and said it plays an important role in accelerating economic development.

In an address to the joint sitting of both the Houses of Parliament, Mr Kovind said exemption to persons earning up to Rs 5 lakh from payment of income tax is an important step in this direction.

He said similarly, indirect tax system was also being made simple and effective. With the implementation of GST, the concept of ‘One country, One tax, One market’ has become a reality. Efforts to further simplify the GST will continue.

“Keeping in view the interests of small traders, my Government has launched a new pension scheme for them. ‘National Traders Welfare Board’ will be constituted shortly, and ‘National Retail Trade Policy’ will be formulated to promote retail business.

“Accident insurance of up to Rs 10 lakh will also be provided to all traders registered under GST,” he added.

On the MSME sector, the President said several steps have been taken to ensure smooth cash flow to enterprises run by small entrepreneurs.

In order to ensure that entrepreneurs associated with MSME sector did not face any problem in accessing credit, Mr Kovind said the credit guarantee coverage is being enhanced to Rs 1 lakh crore.

UNI SW AE 1357

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RS passed 31 Bills; productivity at 104 pc: Naidu

RS passed 31 Bills; productivity at 104 pc: Naidu

07 Aug 2019 | 3:47 PM

New Delhi, Aug 7 (UNI) Rajya Sabha Chairman M Venkaiah Naidu on Wednesday termed the 249th session of the Upper House as the most productive one at 104 per cent which ranked fifth best in the last 41 years.

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RS: Bill to increase number of SC judges passed without discussion

07 Aug 2019 | 2:14 PM

New Delhi, Aug 7 (UNI) As agreed by both Treasury and Opposition benches, the Rajya Sabha on Wednesday passed the Supreme Court (Number of Judges) Amendment Bill, 2019 without discussion in the House.

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Rajya Sabha adjourned sine die

07 Aug 2019 | 2:03 PM

(Rptg, correcting para2)
New Delhi, Aug 7 (UNI) The 249th session of Rajya Sabha Wednesday adjourned sine die after paying rich tributes to the former Member of the Upper House and former External Affairs Minister Sushma Swaraj.

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Rajya Sabha adjourned sine die

Rajya Sabha adjourned sine die

07 Aug 2019 | 1:10 PM

New Delhi, Aug 7 (UNI) The 249th session of Rajya Sabha Wednesday adjourned sine die after paying rich tributes to the former Member of the Upper House and former External Affairs Minister Sushma Swaraj.

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