Prime Minister Modi says GST has transformed Indian economy

Exuding confidence on the new tax regime, GST (Goods and Services Tax), Prime Minister Narendra Modi has said that the Goods and Services Tax (GST) has transformed the economy in his monthly radio programme “Mann Ki Baat” while addressing the nation.

Referring to the GST, he asserted that the GST has transformed the economy. It has been one month since GST was implemented and its benefits can be seen already. He said it is more than just a tax reform. It ushers in a new culture.

PM Modi also revealed that 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.

He said the successful rollout of GST has become a case study for universities. Describing the positive impact of GST on the nation and its poor, he discussed he has received lot of calls and letters regarding to the GST. He expressed his happiness on poor people's response on the uniform tax regime, who write to him and said how because of GST prices of various items essential for them have come down. He added, 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.

Underlining that the GST impact in the transport and logistics sector leading to “clutter-free” highways resulting in less pollution, Modi refers GST as “Goods and Simple Tax’. 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, the sector is seeing ease-of-doing business.

He stated that someday, the Pundits of Economics, Management and 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. Describing GST rollout as more than just a tax reform, PM 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.

In his 34th edition of radio programme, he also stressed on various topics, especially the flood situation in the several parts of the country and the need for using only the environment-friendly items made by the poor people of the country during the festivals.

Tags: Prime Minister Modi, prime minister narendra modi, prime minister of india, gst, mann ki batt, Goods and Simple Tax