Tax policy mention in President's address!
Well, one will have to dig into history to see when was the last time the President's address to a joint sitting of Parliament (post swearing in of a new govt. ) , devoted a full paragraph to tax policy!! That is exactly what happened earlier today when President Pranab Mukherjee addressed our MPs .. the para in focus for tax professionals - Para 26 .. here it is:
26. " My government will create a policy environment which is predictable, transparent and fair. It will embark on rationalisation and simplification of the tax regime to make it non-adversarial and conducive to investment, enterprise and growth. My government will make every effort to introduce the GST while addressing the concerns of States. Reforms will be undertaken to enhance the ease of doing business. My government will follow a policy of encouraging investments, including through FDI; which will be allowed in sectors that help create jobs and assets.
While the para is more or less a straight lift from the BJP manifesto, the fact that it made a way to the President's speech, clearly reflects the outsized importance of taxation policy for the Modi Govt..