New Delhi/Bengaluru, 16 September (H.S.): Union Finance Minister Nirmala Sitharaman said on Wednesday that discussions on tax policy should rise above the concerns of individual sectors and prioritise the broader national interest.

Addressing the eighth international tax conference on ‘New Age Taxation’, organised by the International Tax Research and Analysis Foundation (ITRAF) in Bengaluru, she emphasised that policy proposals should focus on long-term development objectives rather than seeking individual rate cuts, exemptions or concessions. The minister called upon academics, researchers and think tanks to make independent tax policy research a regular part of public discourse so that it could be scrutinised, questioned and improved.

The Union Minister said independent research on tax policy should become an integral part of public debate. She urged tax professionals to look beyond sectoral interests and place the national interest above individual or industry-specific concerns. Sitharaman said India has a high calibre of professionals and experts in the field of taxation, but there is a need for a robust institutional platform that can bring together their expertise and enable them to contribute meaningfully to policy choices.

Sitharaman urged ITRAF to give greater prominence to independent tax policy research and establish a direct link between such research, policymaking and public discourse. She stressed that proposals submitted to the government on taxation should place the national interest above demands for tax-rate reductions, exemptions or concessions.

Speaking about the pre-Budget consultations conducted by her ministry, the Finance Minister said such discussions should raise larger questions about what kind of tax system India should have over the next two decades as the country progresses towards ‘Viksit Bharat 2047’.

She called for better tax research that examines all relevant dimensions, measures the impact of proposed policies, assesses the associated trade-offs, offers practical alternatives to offset any revenue loss to the exchequer and assists the government in developing policy options that can contribute to a sound and effective tax framework.

---------------

Hindusthan Samachar / Jun Sarkar