Finance Minister Arun Jaitley said on Monday, highlighting the need to have lower level of taxation, that lower tax levels will make it competitive globally.

“What you need is lower level of taxation, to provide services more competitive in nature. Competition is not domestic, it is global. This is one important change you will witness while you will be in service,” Jaitley said.

“We’ve lived through last seven decades in India under the impression that if avoidance could be done of government revenue, there wasn’t anything immoral about it,” he said.

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