GST won't put any pressure on GDP growth: Rangarajan
GST
Dated:- 12-8-2017
Hyderabad, Aug 11 (PTI) Former Reserve Bank Governor C Rangarajan today said the GST rollout has been smooth barring some initial hick ups and maintained the new regime is just an extension of Value-Added Tax (VAT) and will not put any pressure on GDP growth figures.
\n"I don't think it (GST) will put any pressure on the GDP growth. There are always teething problems when a far- reaching scheme is introduced.
\n"But it appears so far things have moved rather smoothly and GST, in some sense, is an extension of VAT, which is already an ongoing scheme in India," he said.
\n"Therefore, some new things have emerged and new things have to<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n balance sheets are weak, automatically the banks' balance sheets also become weak," said the former chairman of the Prime Minister's Economic Advisory Council. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" GST won't put any pressure on GDP growth: Rangarajan GSTDated:- 12-8-2017Hyderabad, Aug 11 (PTI) Former Reserve Bank Governor C Rangarajan today said the GST rollout has been smooth barring some initial hick ups and maintained the new regime is just an extension of Value-Added Tax (VAT) and will not put any pressure on GDP growth … Continue reading “GST won't put any pressure on GDP growth: Rangarajan”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-7116","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/7116","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7116"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/7116\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nThe noted economist said some of the bad loans are due to a slowdown in the economy and asset restructuring companies are part of the solution.
\n"The solution to clean up the balance sheet of banks lies in taking some hair cut. Even though hair cut can not be avoided, wilful defaulters must not go unpunished."
\nRangarajan, who was the helm of the RBI from December 1992 to November 1997, said it is necessary for India to grow at 8 to 9 per cent annually to reach per capita GDP of USD 8,000 by 2030 from the current levels of USD 1,600.
\nReferring to a recent stu<\/p>\n
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