What is PC's Biggest Achievement in, or influence on Taxation?

By Vijay Kumar

PC tells ITR, "Two things come to mind immediately. The first is the new income tax slabs that I had implemented in the 1997-1998 budget. The three rates of 10%, 20% and 30% for individuals and the rate of 30% for corporates have, much to my surprise, survived several governments and three finance ministers! The other big achievement was the introduction of VAT in 2004-2005."