"People here live and die under the burden of taxes," BJP leader Arun Jaitley said.

"When we talk about blackmoney, the fact is there is more black money in countries which have high rate of taxation. Rationalization of taxation is, therefore, needed," Jaitley said.

BJP president Rajnath Singh also said there is a need to reduce the burden of taxation. "We want to reduce the burden of taxation on the people. We are weighing options," he said.

The comments came after yoga guru Baba Ramdev said once BJP's Narendra Modi becomes the Prime Minister, he should abolish all kinds of taxes and bring in a single tax in the form of a ‘banking transaction tax’.

"Transaction tax sounds like a good idea," Rajnath added.

Earlier, Gadkari had suggested a single tax system for the country and pitched for abolishing direct and indirect taxes in the country, which would be replaced by a flat banking transaction tax.


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