Manmohan takes potshots at note ban, hasty rollout of GST – Goods and Services Tax – 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 scale sector… th
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nt 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-changer while cautioning against the difficulties in its implementation. On August 30, t
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