GST will set in economic integration

GST will set in economic integration

Slamming the opposition for stalling the reform process in the country through the Goods and Services Tax (GST), Finance Minister Arun Jaitley said that GST will bring in economic integration in the country.

“There are some people working for putting obstacles on growth and hence are stopping GST as well. All the chief ministers are in favour of GST, even the opposition is in favour. There are no numbers to stop it in the Parliament and hence, they adopted a new strategy of affecting the working of Parliament during the three day extension adopted for passing GST. Some people, while they were in government, were a burden on the economy and aspire for the same even in Opposition,” Jaitley said, at the launch of the three social security schemes in Mumbai.

Seamless transfer

The entire country will be a single market, it will be the economic integration of India. There will be a seamless transfer of goods and services if GST is implemented, Jaitley added.

Jaitley, along with Maharashtra Chief Minister Devendra Fadnavis, announced the launch of Pradhan Mantri Suraksha Bima Yojana, Atal Pension Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana at the event. The Pradhan Mantri Suraksha Bima Yojana and PM Jivan Jyoti Bima Yojana will provide insurance to individuals in any unfortunate event causing death or disability while the Atal Pension Yojana will address the problem of income security during old age according to the government.

According to Jaitley, Maharashtra is definitely likely to benefit due to GST implementation. “We started the process to end the multitude of indirect taxes across the country and took the states along in this as it would involve a change in the Constitution. Maharashtra will benefit a lot through GST,” Jaitley said. Jaitley also seemed bullish about the growth prospects of the economy going forward.

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