Indicating greater compliance measures from government agencies, Arun Jaitley said that India will be moving towards becoming a voluntary tax compliant society.
The Indian govt will soon unveil a policy to encourage domestic defence manufacturing and reduce imports of military equipment.
Subramanian said states, which have the option to levy the tax, should make a distinction between rich and poor farmers.
Abolition of the 25-year-old FIPB is in the final lap and this will set the stage for more reforms in the FDI policy, Finance Minister Arun Jaitley said.
India is in the advanced stages of formulating a policy to encourage domestic defence manufacturing and cut import of combat planes, ships and submarines.
Jaitley said new barriers to migration and the closing of borders are elements of a protectionist approach.
The government has no plans to impose any tax on agricultural income, Arun Jaitley said putting to rest recent speculation on a politically sensitive issue.
Q4 corporate earnings, French elections, April series expiry and the last set of macroeconomic data for the month will provide direction to the market this week.
The vexed issue of the Trump administration mulling curbs in H-1B visas has been taken up with by Finance Minister Arun Jaitley with the American authorities.
India continues to be the fastest growing major economy in the world and its growth will accelerate further due to factors like implementation of GST.