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50 Billion Rupe Tax - Finance Minister Aurangzeb Gives Good News

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00:00The target is to bring the capacity payment charges to this level in the next six months.

00:11We have to reduce them by at least Rs. 10 or Rs. 8.

00:14Have you set any such target time frame?

00:18Yes, there is a target.

00:21Since the Minister and the S.A.P.M. are taking the lead,

00:27I will leave it to them to give you the exact figures.

00:33But as a whole of the government, it has to be a meaningful reduction.

00:41Because Rs. 50, Rs. 60, Rs. 70, and Rs. 1 will not be enough.

00:48You know this and so do we.

00:50We will come to the taxation thing and everything.

00:55You yourself scared us in the press conference that if we don't take these measures,

01:01we will have to go back to where we were before.

01:04There is an industry and a salary class.

01:07The salary class paid a tax of Rs. 368 billion last year.

01:12The retail sector paid a total of Rs. 17 billion.

01:15The entire country's shops and markets are in this state.

01:18Even the textile industry, the cherished baby of the house,

01:23paid a tax of Rs. 111 billion.

01:25Sugar barons, I remember there was a meeting.

01:27When the Finance Minister was there, he called for a meeting of sugar barons.

01:31When I reached the airport, there were 11 private jets standing there.

01:35When I came inside and heard what they were saying,

01:37it sounded like they were talking about poverty.

01:39It felt like I had more money and I wanted to give them some money.

01:42And they paid a tax of Rs. 135 billion.

01:44The salary class is the one paying it.

01:46We have just been informed that you have started the Taj-e-Doh scheme.

01:49In two months, people have collected only Rs. 5 lakhs.

01:54And now you are at a tax of Rs. 100 per shopkeeper.

01:58Mr. Mirza did more than this.

02:00He lost his job.

02:01We don't want the same for you.

02:03But is it a fact that you are at a tax of Rs. 100 per shopkeeper

02:07instead of a reasonable amount?

02:09And is this Rs. 5 lakh thing right?

02:13Look, Mr. Malik, let's look at it in the wider perspective.

02:18Because these things have been quoted in some newspapers today.

02:22The number of filers doubled during the last year.

02:31There are 5 lakh additional people in the new filers.

02:36It's not only the new filers but also the question that

02:41there is an additional tax of Rs. 50 billion.

02:45Look, the month that we have ended on 30th September,

02:52and you and I both know that there was a lot of discussion about

02:55how shortfall it will be and how shortfall it won't be.

02:59So, Alhamdulillah, we met the target.

03:02If I may interject, you met the target for September

03:10but you have a shortfall of Rs. 93-94 billion for the first quarter.

03:15You have also met the target for September.

03:18But here it was said that it will be a shortfall of Rs. 250-300-350

03:24and then we don't know how many more measures we will have to take.

03:27You are absolutely right. We are 90 billion short.

03:30But if you look at it in the context of the first quarter target,

03:33especially the September number was a steep number which we met.

03:39So, that additional talk that the mini-budget is about to come,

03:43and the mini-budget has come and the measures are about to come,

03:46I think we have to give credit to the tax authority

03:50in terms of enforcement or compliance.

03:53And look at the steps that we have taken in this.

03:56You are going to a segment, we are very clear, under-taxed, untaxed.

04:00These are the folks we have to bring into the net.

04:03Because without that, you are saying that I have scared them.

04:06There is nothing to be scared of. Our hand has been forced.

04:09Look, back to salary class. I myself was in the salary class 6 months ago.

04:14Taxes, super-tax, CBT. So, how far will we take this?

50 Billion Rupe Tax - Finance Minister Aurangzeb Gives Good News

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