Kolkata, November 29, 2017
Admitting that there were initial hiccups post rollout of GST, Shiv Pratap Shukla, Minister of State for Finance, said that things should smoothen out by March 2018.
Speaking at the 116th annual session organised by the Merchants’ Chamber of Commerce and Industry here on Wednesday, Shukla said, there were lot of troubles initially as people took time to understand and accept the system. However, things are better now.
"By March 2018, GST will become so simple that people will have no issues," he said.
Talking about the mounting non-performing assets (NPA) problem, he said that the Centre has done its bit in terms of providing recapitalisation support to banks to ensure their health. However, banks should not make it a ‘tradition’ to depend on the government.
Banks, particularly the nationalised ones “should stand on their own”, he said.
“If we did not do that (provide recapitalisation support), banks could not have been saved. But they should not make it a tradition,” he said.
The Centre plans to provide Rs. 2.11 lakh crore ($32 billion) recapitalisation support to state-run banks to help them tide over the NPA issue.
“We have firmly urged banks to clean the NPAs,” he said.
[The Hindu Business Line]