Gandhinagar (Gujarat), January 11, 2017
Finance Minister Arun Jaitley on Wednesday said it is important that the Goods and Services Tax (GST) be implemented before September 16.
The Finance Minister, while addressing the media, said, "It is important that the Goods Services Tax (GST) must be implemented before the September 16 however we would want it to get implemented by April. It is necessary to implement it before 16 April."
Jaitley further said the country needs bold reforms to transform the economy.
Talking about the recent demonetisation move, he said GST and demonetisation would boost growth in economy.
"After the transient impact, demonetisation would lead to a cleaner and larger GDP," he said at the Vibrant Gujarat Summit here.
The four-day investor-related summit, which happens to be India's biggest, began on Tuesday.
Yesterday at the same summit, Prime Minister Narendra Modi told a gathering of business leaders that India is the sixth largest manufacturing nation in the world and is on verge of becoming the world's most digitized economy.
The Vibrant Gujarat 2017 Summit comes two months after the government's decision to abolish 500 and 1,000-rupee notes. The move, meant as an attempt to root out corruption and stop terror financing, has also generated a slowdown in certain sectors.
[The Business Standard]