LIC IPO
If LIC IPO goes as planned, FY22 disinvestment target achievable: Revenue Secretary Tarun Bajaj
New Delhi/IBNS: If the LIC IPO goes as planned, the government will be able to achieve itsthe FY22 disinvestment target of 1.75 lakh crore and might even exceed revised estimates (RE) figures, Revenue Secretary Tarun Bajaj said Wednesday.
In an interview with CNBC-TV18, Bajaj said the Centre has taken a different strategy on disinvestment unlike the past governments, who were getting IPOs and FPOs
He said the Air India divestment did not get the Centre cash, “but has got us to achieve the target that we had set”.
The Revenue Secretary added: “There has been a continuous criticism on the FY22 divestment target of Rs 1.75 lakh crore and the government not being able to achieve it. So, we will have to wait. I am confident that we will not only achieve the targets but also exceed them.”
On GST rate rationalisation, Bajaj said,“We have the group of ministers under Karnataka Chief Minister Basavaraj Bommai looking into the aspects of rate rationalisation, merger of rates, and correction of inverted duty structure. GST compensation is also an issue -- a window which ends on July 1 -- so that is also coming up for review.”
“The current revenue-neutral rate is 11.6 percent and it should be around 15 percent. The Centre is aware of these issues and the council would take it up,” he added.
On Finance Minister's announcement of 30 percent tax on gains from virtual asset transactions, he said the government decided to not delay in imposing taxes on these proceeds after seeing information from crypto exchanges.
Bajaj further said: “The Revenue Department is clear that if you are making money through these assets, then we have given the clarity on the tax treatment, including covering all areas. Please pay your taxes, the government is aware of the transactions.”
He clarified that his statements do not drop hints on whether the government is plannig to legitimise crypto or not.
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