November 22, 2014 2:04 PM

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Government may do away with LPG subsidy for rich: FM

Government is considering doing away with the LPG subsidy for the rich. This was stated by Finance Minister Arun Jaitley at a function in New Delhi yesterday. He said, the next important decision India will have to take is whether people are entitled to get LPG subsidy. Mr Jaitley said that the decisions would be better for the system, and they are all on the government's agenda.The Finance Minister also said that an unsustainable tax demand would only earn the country a bad name as an investment destination. His comments came in the wake of the Bombay High Court order earlier this week where-in the Income-Tax Department lost its 18,000-crore rupees transfer pricing cases against Shell India. Mr Jaitley, however, maintained that those who are supposed to pay taxes must pay.The Finance Minister also said that weak credit off take in the economy is worrisome. He said increasing interest from foreign investors in the defence and railways sectors is encouraging.On black money, Mr Jaitley said that it is better to take a legal recourse than an adventurous one.

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