Union Finance Minister Nirmala Sitharaman today said that the government will respond to the challenges faced by all the sectors and all possible help will be extended to them.
"We are looking at the challenges which the sectors are facing. We will respond to the challenges and extend all possible help," Ms Sitharaman said in response to a question about economic slowdown at a press conference in Kolkata.
About revenue collection during the current financial year, Ms Sitharaman said that targets have been given to the Central Board of Direct Taxes and Central Board of Indirect Taxes and Customs
"These targets have been given after due considerations and consultations," Ms Sitharaman said adding that if the collection is low, the central government will look into it.
"But spending on social sector will not be affected," she added.
About transfer of RBI surplus to the government, Ms Sitharaman said no decision has been taken on how to utilize it yet
Ms Sitharaman, who also held a meeting with the tax administrators in Kolkata, said the revenue department will bring in faceless assessment and randomise the scrutiny process.
The Finance Minister also announced that every notice with claims issued to the taxpayers will be accompanied by a document identification number (DIN).
"If a notice of a tax claim is not accompanied by a DIN, it can be treated as not issued", she said.