Union Finance Minister Arun Jaitley has said the problem of domestic black money can be addressed by rationalising taxes and bringing more people under the banking net besides some other measures. Delivering a lecture at Columbia University in New York, Mr. Jaitely said rational rate of taxation helps people comply to taxation. He further said the nature of the economy is itself changing and many more banking transaction takes place through payment getaways. All this is going to incentivise and a lot of economy is going to go through the banking transaction as a result of this.In addition to this, Mr Jaitely said as far as corporate taxes are concerned, once corporate tax rates go down the exemptions will have to be phased out. Referring to GST which is stuck in parliament, he said it is the top priority of the government.