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Chidambaram looks at more tax on the rich: TV

Source : REUTERS
Last Updated: Thu, Jan 24, 2013 05:20 hrs
India's Finance Minister Chidambaram attends a news conference in Hong Kong

NEW DELHI (Reuters) - The government should consider charging the very rich more tax, Finance Minister P Chidambaram said in an interview with the CNBC TV 18 news channel aired on Thursday, but emphasized that he believed in "stable tax rates."

"We should consider the argument whether the very rich should be asked to pay a little more on some occasions," Chidambaram told the network.

His comments in the lead up to his 2013/14 budget, due to be presented to parliament on February 28. The Prime Minister's economic advisor recently recommended higher tax rates for the very rich at a time when India is trying to reduce a wide fiscal deficit.

(Reporting by Manoj Kumar; Editing by Frank Jack Daniel)




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