Economy is much better today: Pranab

Even as citizens are struggling with inflation and rising fuel prices, Union finance minister Pranab Mukherjee on Monday assured that the economy in India today is much better than it was earlier.

Even as citizens are struggling with inflation and rising fuel prices, Union finance minister Pranab Mukherjee on Monday assured that the economy in India today is much better than it was earlier.

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Mukherjee was in Navi Mumbai to inaugurate the Aayakar Seva Kendra or help centre of the income tax department, at the Vashi railway station complex. He later launched a cattle finance scheme.

Speaking at the I-T office, Mukherjee said: “By opening such centres, the I-T department intends to provide efficient services to tax payers. The centre will help address their grievances.”

On the current economic scenario, he said: “The country has undergone tremendous change between 1970 and the 21st century. Even though we have been facing difficulties, the economic condition is much better today as compared to a few years ago.”

“The increase in the direct taxes collection is a good indicator of the increase in the GDP of the country,” he added.

The finance minister also flagged off a cattle finance scheme for marginal dairy farmers. The scheme, by private sector milk brand Dwarka Milk, aims to enable marginal dairy farmers in the state to purchase milch cattle and the company will stand guarantee for them. The farmer will also receive high-quality cattle feed from Dwarka Milk, on easy credit.