Delhi: Union Minister Nitin Gadkari has urged industries not to appeal to the government for reductions in GST and other taxes, emphasizing that tax revenues are essential for funding welfare schemes for the underprivileged. Speaking at an industry event, he remarked that reducing taxes further would only lead to demands for more reductions, which could impact the government’s ability to support welfare initiatives.
Gadkari highlighted the government’s vision of taxing the wealthy to support the poor, ensuring social and economic balance. Addressing industry concerns, he assured that logistics costs in India would drop to 9% within two years, bringing them closer to China’s 8% and significantly lower than the 12% in the US and Europe.
He also stressed the importance of boosting capital investments to generate employment and called for reducing imports while increasing exports to drive India’s growth towards a developed economy. The minister reaffirmed the government’s commitment to infrastructure and industrial expansion to enhance economic competitiveness.
