group of ministers to examine and make recommendations in this regard at the earliest64 gst aims to benefit small traders manufacturers and service providers exemptions from gst for small businesses has been doubled from rs 20 lakh to rs 40 lakh further small businesses having turnover up to rs 15 crore have been given an attractive composition scheme wherein they pay only 1 flat rate and have to file one annual return only similarly small service providers with turnover upto 50 lakhs can now opt for composition scheme and pay gst at 6 instead of 18 more than 35 lakh small traders manufacturers and service providers will benefit from these trader friendly measures soon businesses comprising over 90 of gst payers will be allowed to file quarterly return65 in spite of such major rate reductions and relaxations revenue trends are encouraging the average monthly tax collection in the current year is rs 97100 crore per month as compared to rs 89700 crore per month in the first year the state revenues are improving with guaranteed 14 annual revenue increase for the first five yearscustoms and trading across border reforms66 to promote the make in india initiative we have undertaken rationalization of customs duties and procedures our government has abolished duties on 36 capital goods a revised system of importing dutyfree capital goods and inputs for manufacture and export has been introduced along with introduction of single point of approval under section 65 of the customs act indian customs is introducing full and comprehensive digitalization of exportimport transactions and leveraging rfid technology to improve export logistics demonetisation and drive against black money67 our government is committed to eliminating the ills of black money from our country the antiblack money measures taken by us during the last four and half years in the form of black money law the fugitive criminal offenders act and demonetisation have brought undisclosed income of about rs 130000 crore to tax led to seizure and attachment of assets worth approximately rs 50000 crore and compelled holders of large cash currency to disclose their source of earnings during this period benami assets worth rs 6900 crore and foreign assets worth rs 1600 crore have been attached as many as 338000 shell companies have been detected and deregistered and their directors disqualified growth of 18 in direct tax collection in 201718 and increase in tax base by as many as 106 crore people filing income tax returns for the first time in fy 201718 is mainly on account of demonetizationvision for the next decade68 madam speaker the nda government headed by honble prime minister shri narendra modi has laid the foundation for indias growth and development for times to come we have resolved many problems which were coming in the way of realising our full potential as a society and an economy we are poised to become a five trillion dollar economy in the next five years and aspire to become a ten trillion dollar economy in the next