Gopalakrishnan, the executive vice-chairman of infosys, said that GST has the potential of creating significant opportunities for the Information Technology (IT) industry.
Infosys co-founder Kris Gopalakrishnan on Friday said that newly implemented Goods and Services Tax can create up to 1 lakh jobs in the country. Gopalakrishnan, the executive vice-chairman of infosys, said that GST has the potential of creating significant opportunities for the Information Technology (IT) industry, Asian Age reported. He added that new tax regime will not only help create job opportunities, but improve productivity and ease of doing business in the country, while also increasing the government’s tax revenues. However, Gopalakrishnan is not the first one who has expected a surge in job creation due to GST. Earlier, Labour and Employment Bandaru Dattatreya, Central Board of Excise and Customs, Harsh Dhingra (Bombardier Transportation), and industrialist Rajeev Chandrasekhar have also expected a sudden surge in number of jobs due to GST. Bandaru Dattatreya had recently said that GST rollout will create around one lakh jobs in first three months. He further told reporters that around 60,000 persons would get employment in the accountancy sector. The Central Board of Excise and Customs, via press releases and advertorials, have also said the same thing. “GST will create a unified common national market for India, giving a boost to foreign investment and Make in India campaign,” the Central Board of Excise and Customs (CBEC) said in an advertisement in major newspapers.
Also, Harsh Dhingra, a senior official with Bombardier Transportation, India, had also expected a spurt in jobs due to GST. “India has been growing around 7-8% every year and for India, it to maintain these levels, railways can grow every year by around 9.5% with the impetus of GST,” he has said. “Rail transportation will then create new jobs, save energy, improve the environment while moving people, raw material and goods more efficiently nationwide,” he adds.
While Rajeev Chandrasekhar, an independent Rajya Sabha MP, had also said that GST will create jobs. “Indirect taxes form the backbone of our economic model. Reforming and simplifying the indirect taxes becomes very important in that aspect,” Chandrasekhar had said. Chandrasekhar, supporting the swift passage and implementation of the Goods and Services Tax (GST) Bill, said, “GST is without any doubt a significant reform. It will create more jobs, create a wider choice of products, and ensure less corruption and red tape. The benefits of of creating a common market are well known.”