GST not a drag on GDP growth

GST not a drag on GDP growth
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Teething problems bound to happen in execution of any major policy decision and GST is no exception, says former Reserve Bank (RBI) Governor C Rangarajan, while adding that the GST rollout so far is hassle-free. “Of course, there may be few initial hick ups.

Hyderabad: Teething problems bound to happen in execution of any major policy decision and GST is no exception, says former Reserve Bank (RBI) Governor C Rangarajan, while adding that the GST rollout so far is hassle-free. “Of course, there may be few initial hick ups.

The new regime is just an extension of value-added tax (VAT) and will not put any pressure on GDP growth. I don’t think GST will put any pressure on the GDP growth,” he said.

Rangarajan stressed the need for India to grow at 8-9 per cent growth annually to reach per capita GDP of $8,000 by 2030 from the current levels of $1,600.Rangarajan participated in a programme at University of Hyderabad here on Friday. He further said that that nation-wide implementation of GST, what my impression is that, has gone through reasonably well.

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