Government considering demands to reduce personal income tax rates, says NITI Aayog

The government is considering demands from the industry for a cut in personal income tax rates, NITI Aayog Vice-Chairman Rajiv Kumar has said. According to a report with NDTV, Rajiv Kumar said, "I have heard that there are demands of personal income tax rate cuts and I am fully confident that the government is holding consultations and discussions on this matter." The development comes a day after industrialist Adi Godrej echoed similar views and called for a reduction in income tax to spur consumption.

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