Government plans to cut GST on cement next: Arun Jaitley
New Delhi : Finance Minister Arun Jaitley on Thursday said that the BJP-led NDA government is now working on reducing GST on cement and other things but would only be able to implement if elected back in power. He further said the GST (Goods and Services Tax) Council has cut tax rates on consumption items to 12 or 18 per cent from the highest slab of 28 per cent.
"I speak in terms of taxation policies... I'm quite clear in my mind that on two issues at least we had - a lot of good fiscal prudence and we brought the rates down, these are two areas, if we are in power we will continue the same glide path," Jaitley said while addressing the CII AGM here.
General Elections in India are set to begin from April 1 and will continue till May 23 in different phases.
Jaitley said India's growth has stabilised between 7-7.5 per cent and irrespective of global trends, domestic consumption is going to increase.
"We have come to 7-7.5 per cent (growth rate) range despite the fact that there is no global boom or support of any kind, and we have stabilised at that, you need to graduate further," he added.