Manmohan takes potshots at note ban, 'hasty' rollout of GST
GST
Dated:- 18-9-2017
New Delhi, Sep 18 (PTI) Former prime minister Manmohan Singh today again warned of demonetisation and "hasty" implementation of GST adversely impacting GDP growth.
Singh, who had previously cautioned against note ban shaving off 2 per cent of GDP, said demonetisation of 86 per cent of the currency in circulation and the hasty implementation of the Goods and Services Tax (GST) have impacted informal and small scale sectors, which account of about 40 per cent of the USD 2.5-trillion economy.
"Both demonetisation and the GST have had some impact (on GDP growth)," he said. "Both would affect the informal sector, the small s
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
t fiscal slumped to a three-year low of 5.7 per cent, down from 7.9 per cent in April-June quarter of 2016. In January-March quarter, the growth declined to 6.1 per cent from 8 per cent in the year- ago quarter.
The government had blamed de-stocking ahead of the rollout of the Goods and Services Tax (GST) from July 1 as the primary reason for the fall in the GDP growth rate.
GST unified more than a dozen central and state levies like excise duty, service tax and VAT, but its implementation has seen technical glitches with the registration and tax filing portal, forcing the government to postpone return deadlines.
In April, when the supporting GST bill was passed in Parliament, the former prime minister had hailed it as a "game-chang
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =