GST has re­duced bar­ri­ers be­tween States: Pres­i­dent

Kovind in­au­gu­rates 37th In­dia In­ter­na­tional Trade Fair at Pra­gati Maidan in Delhi

The Hitavada - - 2ND FRONT PAGE -

PRES­I­DENT Ram Nath Kovind said on Tues­day that the in­tro­duc­tion of Goods and Ser­vices Tax (GST) was a mile­stone and the new regime has re­duced bar­ri­ers be­tween States, cre­at­ing a more for­mal econ­omy.

Inau­gu­rat­ing the 37th In­dia In­ter­na­tional Trade Fair (IITF) at Pra­gati Maidan here, he said the coun­try is recog­nised as a bright spot of the global econ­omy and the world has ac­knowl­edged the change in its busi­ness en­vi­ron­ment.

“In­tro­duc­tion of GST has been a mile­stone and it has bro­ken down bar­ri­ers be­tween states. It has pro­vided a boost to the cre­ation of a com­mon mar­ket and a more for­mal econ­omy as well as a stronger man­u­fac­tur­ing sec­tor,” Kovind said.

Due to these ef­forts, he said, for­eign di­rect in­vest­ment (FDI) in the coun­try in­creased to USD 60 bil­lion in 2016-17 from USD 36 bil­lion in 2013-14.

The Pres­i­dent also said that the fo­cus of In­dia’s eco­nomic re­forms and poli­cies is to elim­i­nate poverty and en­hance the pros­per­ity of mil­lions of or­di­nary fam­i­lies.

“After all, trade must help com­mon peo­ple. They are the ul­ti­mate stake­hold­ers,” he added.

List­ing the Gov­ern­ment ini­tia­tives such as Make in In­dia, Dig­i­tal In­dia, Start Up In­dia, Skill In­dia and Smart Ci­ties, he said that these steps are an at­tempt to make eco­nomic re­forms more mean­ing­ful to those at the grass­roots.

GST, which sub­sumed more than a dozen Cen­tral and State levies like Ex­cise Duty, Ser­vice Tax and VAT, was im­ple­mented from July 1.


Pres­i­dent Ram Nath Kovind be­ing greeted by Union Min­is­ter for Com­merce & In­dus­try, Suresh Prab­hakar Prabhu dur­ing in­au­gu­ra­tion of the 37th In­dia In­ter­na­tional Trade Fair (IITF-2017) at Pra­gati Maidan in New Delhi on Tues­day.

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