Officials must stay within the red-sandstone North Block to maintain the secrecy of the tax proposals they are working on. They can get back to the outside world only after the Budget is presented.
Sitharaman, MoS (Finance) Anurag Thakur participated in the 'Halwa' ceremony on Monday, which was held at the Finance Ministry in the North Block.
In response to criticism for not attending a meeting steered by Prime Minister Narendra Modi on reviving economy, Finance Minister Nirmala Sitharaman said that they got the facts wrong.
She said the government has already taken steps to decriminalise offences under the Companies Act and expects the support of India Inc to realise the target of becoming a $5 trillion economy.
Over 3000 refugees given Indian citizenship in last 6 years including Adnan Sami, Taslima Nasreen: Sitharaman
Asserting that the government is not snatching away anyone's citizenship, the BJP leader said refugees from Pakistan, Afghanistan, Bangladesh including Muslims were given citizenship.
The Finance Minister said it was the responsibility of all states to ensure that the law passed in Parliament is executed.
Police said the man had arrived at the airport to meet a relative and enquired why there was enhanced security.
FICCI recommended zero customs duty on steel grade limestone and dolomite as increase in steel production has led to rising demand for steel melting shop.
Sources said that the ministry has also pitched to the Finance Ministry that purchase of cigarette cartons at duty-free shops should be prohibited.
What we need is a progressive tax regime since the direct and indirect tax burden on middle income and salaried class is higher, and effectively killing our ability to grow.
Currently, GST on the print media stands at 5 per cent whereas news broadcasters are charged 18 per cent GST.
“The government is clear that a taxpayer should tangibly get relief, up to Rs 25,000 annually," sources said.
Analysing the three years’ accounts of the government, Subhash Chandra Garg also said that the revenue shortfall will be steeper than anticipated.
Lot of firms operating in the e-commerce segment are start-ups, hence there is an expectation of likely waivers on angel tax for such firms.
The sliding economy is an even greater threat to the country, the former finance minister said in a series of tweets.