The Finance Minister said change and evolution are an integral part of any economic order, and they are never held back because the nature of responsibility is going to change.
Citing some of the example of systemic changes carried out by the government, Ms Sitharaman said banking sector reforms, simplifying taxation structure and the proposed roll out of Goods and Services Tax (GST).
As for the implementation of GST, the finance minister said new indirect tax regime will make India one single market, eliminate multiple assessments, check evasion and bring more revenues into the system.
To start with, the employees associations will not celebrate international customs day on Friday.
The GST Council, at its last meeting, has decided that the provision of arrest will be restricted to forgery and non-deposit of collected taxes with the exchequer within the stipulated timeframe.
While the CAG by law audits any receipts in the Consolidated Funds of India, the GST Council is not in favour of giving powers to the CAG under the new GST law to call for information outside of the GST tax receipt for audit.
The Centre has agreed to allow states control over most of small taxpayers, but the GST rollout date was pushed back by three months to July 1.
The consensus was reached after the Centre agreed to the demand of states to go in for horizontal split with regard to tax payers based on annual turnover.
The consensus at the GST Council meeting on jurisdiction over assessees as well as fixing roll out date as July 1 gives industry the much-needed clarity and additional time for preparing for the indirect tax reform, experts said.
The new levy is hailed as India's biggest tax overhaul since independence in 1947, and is expected to transform Asia's third largest economy into a single market for the first time.
The 9th meeting of the all-powerful GST Council, headed by Finance Minister Arun Jaitley, failed to break the deadlock over distribution of powers between the Centre and states.
The all-powerful GST Council, headed by Mr Jaitley, will meet for the ninth time tomorrow with the issue of who gets to administer the Goods and Services Tax (GST) being the single biggest issue on agenda.
Currently, the indirect taxation regime provides for central government taxing manufacturing and services while states levy tax on sale of commodities.
The next meeting of GST Council is scheduled on January 16, to discuss the critical issues of dual control and cross empowerment which deal with the assessee jurisdiction.
GST will subsume central excise and service tax, and CBEC has initiated the process of migrating these taxpayers to the new regime through issuance of a provisional registration number.
The minister also said that exporters would get interest on the refund if it is delayed beyond two weeks.
The constitution does not permit delay in GST implementation beyond September 2017, Mr Jaitley had said earlier.