GST has transformed India's economy: Modi

The successful implementation of GST has become a case study for global universities, Prime Minister Narendra Modi said during the 34th edition of the 'Mann Ki Baat' programme.

A month after Goods and Services Tax (GST) rollout, Prime Minister Narendra Modi has said that the new tax regime has transformed the economy while ushering in a new culture.

“GST has transformed the economy … It has been one month since GST was implemented and its benefits can be seen already. GST is more than just a tax reform. It ushers in a new culture,” Modi said while addressing the nation during the 34th edition of the monthly 'Mann Ki Baat' programme on Sunday.

Modi said he has received a number of ideas from people on successful rollout of GST.  

“This time, I have got lot of calls and letters on GST. I feel very happy when a poor person writes to say how because of GST prices of various items essential for him have come down. All decisions have been taken unanimously by the States and the Centre together. As a result, the overriding priority for every government has been to ensure that there is no burden on the poor on account of GST,” he said.

The successful implementation of GST has become a case study for global universities.

“The speed at which the smooth transition has taken place, along with rapid migration and new registrations, has instilled a new sense of confidence in the entire country. And some day, the Pundits of Economics, Pundits of Management and Pundits of Technology, will certainly undertake researches and write about India’s GST experiment as a model for the world. It will become a case study for universities across the world,” he added.

Source: BusinessLine

Add new comment