Typing Test


Remonetisation has substantially advanced; not a single incident of unrest reported, Finance Minister added "to support the market to the extent that the market needs that kind of liquidity.” More new Rs.500 notes are being released everyday, hence the ability of Banks to lend money has also been substantially increased in the last few days, Finance Minister added. Here's the full text of Finance Minister's speech: "On the November 8, the Prime Minister, Shri Narendra Modiji had asked for the country to support him notwithstanding several inconveniences being suffered by people during the remonetisation period. Amongst the currency which was in circulation till November 8; a very large part has already been replaced. More and more notes of Rs.500 and Rs.2000 are also being released through the banking and the post offices. We have till December 19, the direct tax figures of income tax which are now available and the net increase in the income tax so far has been to the extent of 14.4 per cent and if one factors in very large qunatums of refund, the net increase is 13.6 per cent till 19th of December. Notwithstanding what the critics had predicted in all the categories till November 30 there is a significant increase in indirect taxation. In the central indirect taxes, the increase is 26.2 per cent till 30th November. And this includes excise duties increasing by 43.5 per cent, service tax increasing by 25.7 per cent and customs duties by 5.6 per cent. We have also tried to check up the figures for the month of November which could have been adversely impacted on account of the currency replacement compared to the November of 2015. On the year to year basis, the November of 2016 all the three indirect taxes,