Thu Mar 06 15:40:00 UTC 2025: **India Works to Protect Exporters Amidst Potential US Tariffs**
Visakhapatnam, March 7, 2025 – Finance Minister Nirmala Sitharaman assured Indian exporters of government support in the face of potential increased tariffs from the United States. Addressing business leaders and chartered accountants in Visakhapatnam, Sitharaman stated that the government is actively working to protect the interests of Indian exporters amidst ongoing threats of higher tariffs from the US. She confirmed that Commerce and Industry Minister Piyush Goyal is currently in the US engaging in discussions to mitigate these potential impacts.
Sitharaman also addressed concerns regarding the high tax burden on citizens, explaining that various taxes, such as GST, road tax, and insurance tax, serve distinct purposes. She used the example of a car purchase, highlighting that while the combined taxes might seem excessive, they fund different essential services like road infrastructure and import duties. She emphasized that public services require substantial funding and that taxes are necessary to generate the necessary revenue.
The Minister further clarified that while 90 million Indians file income tax returns, only 30 million are actual tax payers. She also explained the rationale behind the separate Central GST and State GST systems, citing it as a component of the federal structure.
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