Live
- 5 dead, 4 injured in Hardoi road accident
- TTD makes preparation for vaikuntha ekadashi to be held from January 10
- Rajasthan cop succumbs to Dengue on way to hospital
- Sir Sorabji Memorial cricket tourney held
- 3 including 2 women held in murder case
- SP slams UP govt, calls it orchestrated
- Shot In The Arm For Tribals… Girijan Coop Corpn Ropes In City Firm To Digitalise Petrol Bunks
- Complete failure of UP govt: Congress
- ‘Excavation rumour sparked violence, SDM, CO responsible’
- Cinematic legacy celebrated at SV University
GST, DeMo created confusion:Indian Chamber of Commerce
Indian Chamber of Commerce (ICC) president A Anjaneyulu said that the newly introduced GST created confusion among commerce sector and consumer is in utter dismay.
Guntur: Indian Chamber of Commerce (ICC) president A Anjaneyulu said that the newly introduced GST created confusion among commerce sector and consumer is in utter dismay.
Addressing a press meet here on Saturday, Anjaneyulu analysed the present scenario after the demonetisation and GST. He said the traders have expected everything will move in right direction after demonetisation and GST. But both the moves have caused enormous damage to merchants and consumer as well. As the purchasing power of customer was all time low, he said the less flow of money circulation affected the market badly.
“The government is projecting the GDP growth at 5.9 per cent but the ICC has the information that the actual figure is only 4 per cent,” Anjaneyulu added. And after the introduction of new currency notes and GST several industries in Andhra Pradesh, particularly in Guntur region were severely hit including cotton and ginning mills. As business houses are closing their ventures at an alarming rate the unemployment is raising tremendously, he said.
He requested the Government of India to resolve the issue as early as possible and once the GDP goes down, the traders will not get fresh loans and it will lead to financial chaos.
