Govt working on more steps including rationalisation of income tax rates to revive economy

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Finance Minister Nirmala Sitharaman has said that the government is working on more steps including rationalisation of income tax rates to revive the economy.

Addressing a function in New Delhi, the Minister said, the intent of the government is to further simplify taxation systems, including removal of exemption. 

Ms Sitharaman said, the government has taken several measures during August and September to boost the economy. The Finance Minister assured the people that there will be no harassment of tax payers.

She said public sector banks have disbursed nearly five lakh crore rupees in the last two months to boost consumption in the hinterland. On the goods and services tax, Ms Sitharaman said, the rate structure will have to be decided by the GST council.