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  1. GST rollout, launch in India: Manohar Parrikar equates present GST anxiety to Y2K syndrome

GST rollout, launch in India: Manohar Parrikar equates present GST anxiety to Y2K syndrome

Goa Chief Minister Manohar Parrikar today equated the current anxiety amongst the trader community about GST to the Y2K syndrome, witnessed in the year 2000.

By: | Panaji | Published: July 1, 2017 12:55 AM
RBI, Reserve Bank of India, GST, Goods and Service Tax, tax reform, structural reform, economy, Indian economy, Arun Jaitley, Finance Minister, Narendra Modi, BJP, Tax revision, New tax format, monetary policy, GST, GST live, GST coverage, GST news, GST updates, GST implementation, GST structure Goa CM Manohar Parrikar. (PTI)

Goa Chief Minister Manohar Parrikar today equated the current anxiety amongst the trader community about GST to the Y2K syndrome, witnessed in the year 2000. “When GST is being implemented, I remember anxious moments when Y2K syndrome came along. I remember people telling me that flights will stop mid air,” Parrikar said addressing the annual general meeting of Goa State Industries Association in Panaji.

“This morning some people told me that all business will get stalled on July 1. I told them I don’t agree with you because your first interaction with GST would be on August 10 officially even as per the Act,” he said. “You don’t have to do anything till then. There is lot of fear and lot of anxiety since it is new. I think sometime even if you work out new initiative with the government, people still get confused even if they are good for you,” Parrikar said.

The chief minister said “breaking out from fear is one of the most important aspect for anyone to succeed, if you don’t have fear then you will be casual.” “Fear also indicates responsibility and when you start your own entreprenuership in a corner of mind, the fear needs to be continuously there,” he added. “I believe that everything has a solution. There is almost nothing which cannot be solved,” he added.

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