GST to have huge positive impact on Indian economy: World Bank

India's GDP in the first quarter of 2017-18 witnessed a growth 5.7 per cent against its corresponding previous quarter of 6.1 per cent.

The recent dip in India's economic growth is an "aberration", which will get corrected in the months to come, said World Bank President Jim Yong Kim.
 
The biggest factor to slowdown was the disruptions caused in the preparation for the Goods and Services Tax (GST), he pointed out, adding that the new indirect tax regime is going to have a hugely positive impact on the Indian economy.
 
"There's been a deceleration in the first quarter, but we think that's mostly due to temporary disruptions in preparation for the GST, which by the way is going to have a hugely positive impact on the economy," said Kim during a conference call ahead of the annual meeting of the International Monetary Fund (IMF) and the World Bank here.
 
India's GDP in the first quarter of 2017-18 witnessed a growth 5.7 per cent against its corresponding previous quarter of 6.1 per cent.
 
According to a TOI report, Finance Minister Arun Jaitley would lead the Indian delegation to the annual meeting next week.
 
Source: TOI

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