1. GST a tectonic shift, takes India closer to 8% plus growth: World Bank

GST a tectonic shift, takes India closer to 8% plus growth: World Bank

World Bank India chief Junaid Ahmad today described GST as a "tectonic shift" in the country's taxation policy which has increased the possibility of 8 per cent plus growth.

By: | Published: September 19, 2017 11:13 PM
World Bank, GST, Junaid Ahmad, Taxation policy, India World Bank India chief Junaid Ahmad today described GST as a “tectonic shift” in the country’s taxation policy which has increased the possibility of 8 per cent plus growth.

World Bank India chief Junaid Ahmad today described GST as a “tectonic shift” in the country’s taxation policy which has increased the possibility of 8 per cent plus growth.  India recorded a growth rate of 7.1 per cent in 2016-17 and 5.7 per cent in the first quarter of the current fiscal.  “Today India is at the brink of a possibility of moving into 8 per cent plus growth rate. Why? Because India has made a very bold step in integrating internally its nation into one market. So the shift into GST is a tectonic shift,” World Bank Country Head in India Junaid Ahmad said at an industry event.

If the Goods and Services Tax (GST) is implemented efficiently, the growth boost India will get is going to be huge, he said while addressing members of PHD Chamber of Commerce and Industry here.  The economic corridors of India will change and that will require change in transportation as well, he added.  “You (India) need systems of transport, particular multi- modal, in order to respond what GST is offering as one market. If GST is implemented efficiently, the growth boost that you will get from internal movements of goods is going to be huge,” he said.

Part of it (growth boost) lies in the implementation of the GST but it also depends on how the country invests in logistics, he added.  Ahmad said if integration of India’s local markets are done correctly, the gains in next 5-8 years from the internal integration will outweigh those from global integration (of markets).  “And indeed the internal integration linked to your port system can change the nature of growth of India,” he added.

However, he said it was pertinent for India to have a highly professional service delivery mechanism in every sphere of life, be it the water system, electricity, railway or solid waste management system. He said the optimal service delivery mechanism of basic infrastructure is one of the biggest challenges India faces today.

  1. S
    sunder
    Sep 20, 2017 at 8:46 am
    Yes it is because of our dynamic honest PM but this Christian media does not say so.Media is controlled by Bhangi Christians who were cleaning our toilets now controlled by an Italian pros ute.Editor this is for you only.Dont publish.
    Reply
    1. C
      Clear Thought
      Sep 20, 2017 at 8:09 am
      There is no dirth of fools even in the world bank.
      Reply
      1. R
        Radhey Shyam Aggarwal
        Sep 20, 2017 at 4:52 am
        Unable to understand how growth will come. No body ready to take any pain in either paying taxes or change logastic
        Reply
        1. Murthy Suppusamy
          Sep 19, 2017 at 11:39 pm
          This GUY wants to keep his job. So he puts up bravely to lie to Public. Shame on him. Every factor is telling GDP going down hill. How come GST alone add to GDP? Petrol and Diesel are selling at twice the price of USA. How come you generate Jobs when no investment is coming from Private?
          Reply
          1. R
            Rajesh Balan
            Sep 20, 2017 at 12:25 am
            Seriously? Double of USA ? I live in Canada and you still are enjoying much cheaper than anyone else in the world. No invest coming to India ? Where are you living man ? It's only the production has reduced a bit... for which you have to blame all your country manufactures (it was when GST turned on they went to play games with the old stock). Retailers and shops ensured that no benefits are passed to end customers when nearly 86 of products went cheap... Best ruler which is deserved is Rahul Gandhi -- Morons
            Reply
            1. Yawar Shamsi
              Sep 20, 2017 at 3:35 am
              Do you know Canada get's its gasoline / Petrol from US ? Gasoline per gallon in US is around $ 2.12. You just proof a dump become dumber in Canada.
              1. M
                MAha
                Sep 20, 2017 at 4:28 am
                Well said
                1. M
                  Madarchod editor
                  Sep 20, 2017 at 8:54 am
                  Are you a born to a Christian pros ute?Rahul is a eunuch.He goes abroad to meet some woman but his does not get erection.
                2. M
                  MAha
                  Sep 20, 2017 at 4:30 am
                  I Agree with Rajesh
                  Reply

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