GST has transformed the economy, ushered in a new culture, says Prime Minister

NEW DELHI: Within a month of its rollout, Prime Minister Narendra Modi has said that the Goods and Services Tax (GST) 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,” Prime Minister said in his address to the nation during the 34th edition of ‘Mann Ki Baat’ on Sunday. Modi said he has received several ideas and suggestions from people on successful implementation of GST. He also said it has improved consumer-producer relations and doing business has become easier. The trust of customers for the traders is also increasing.

Benefits to poor

“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.

Boost to logistics sector

He said the maximum impact of the GST has been felt in the transport and logistics sector leading to “clutter free’ highways, resulting in less pollution. He said due to various forms of taxes earlier the transport and logistics sector had to waste a lot of time and energy and resources on completing the required paperwork.

But with GST, which Modi refers to as “Goods and Simple Tax’, the sector is seeing ease of doing business. He said the successful rollout of GST has become a case study for 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.

GST App

Modi also highlighted that by using the GST App people can obtain information on the price of each item and can also compare it with the previous pre-GST price structure.

“The lofty dream of One Nation – One Tax has finally been fulfilled. In the matter of GST I have seen how everyone, right from the government functionaries at the Tehsil level to the officers in the top echelons of government have toiled tirelessly with great dedication,” he added. He also expressed concern for the flood-hit people in several parts of the country from Gujarat to West Bengal to the North East.

He said a 24x7 control room helpline number 1078 is functioning continuously to deal with the flood situation. Referring to the farmers’ plight whose crops have been damaged by heavy rains, Modi said the government has formulated a scheme for the insurance companies, especially crop insurance companies to ensure quick settlements of claims for farmers.

Source::: Business Line, dated 30/07/2017.