Alok B Shriram, president, PHD Chamber of Commerce and Industry while welcoming the clearance of GST Bill from lok Sabha, said that the implementation of GST Bill would be a potential game changer for the Indian economy and would lead to double digit growth trajectory in the coming times.
It will simplify and rationalise the complex tax structure which would be critical to remove the cascading impact of indirect taxes on economy and to create a pan India common market across the country. The implementation of GST would facilitate ease of doing business and boost up ‘Make in India’ initiative of the Government to provide fruitful results, said Shriram.
The implementation of GST coupled with green shoots in certain macro-economic indicators may facilitate the economy to enter into double digit trajectory in the medium term, he added. SP Kochhar, the chairman Uttarakhand, the introduction of GST is a welcome move and what need to be seen is that how the Government is reshaping the existing areas based exemptions under unified GST.