Modi defends GST, says it will benefit middle-class, poor

Agencies
October 26, 2017

New Delhi, Oct 26: Prime Minister Narendra Modi on Thursday launched a stout defence of the Goods and Services Tax (GST) regime, saying it would lead to the moderation of prices and directly benefit the poor.

Inaugurating the International Conference on Consumer Protection for East, South and South-East Asian countries, the prime minister also made a pitch for strong regulatory framework and information sharing to safeguard consumer interest in the backdrop of growing cross-border e-commerce transactions.

At the conference, the prime minister listed out the benefits of GST, implementation of which has become a matter of ridicule with the Opposition terming it "Gabbar Singh Tax".

“After GST, dozens of different types of indirect taxes in the country have been abolished. Many hidden taxes have also gone away. Now, the consumer knows how much tax he has paid to the state government and how much to the central government,” Modi said.

He said GST would usher in a new business culture and benefit consumers. “Increased competition due to GST will lead to moderation in prices. It will directly benefit poor and middle-class consumers,” the prime minister said.

The Congress-led Opposition has launched a shrill campaign against the “faulty” implementation of GST, claiming it was one of the key reasons for the slowdown in the economy.

Modi also highlighted that Asian countries have a 400 crore consumer base with increasing purchasing power and a young demographic profile, which is a huge support for businesses.

“E-commerce and trans-border mobility of people is resulting in increased cross-border transactions. Under these circumstances, a strong regulatory system in every country and information sharing is a must for sustaining consumer confidence,” the prime minister said.

Modi said a framework for cooperation was also necessary to expeditiously act in cases related to consumers from other countries. “This will enhance mutual trust and trade,” the prime minister said.

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News Network
May 30,2020

New Delhi, May 30: India witnessed the highest ever spike of 7,964 coronavirus positive cases in the last 24 hours, taking the total number of COVID-19 cases in the country to 1,73,763, according to the Union Ministry of Health and Family Welfare.

With as many as 265 deaths reported in the last 24 hours, the death toll due to the virus now stands at 4,971.

Out of the total number of coronavirus cases, 86,422 are active and 82,370 have been cured/discharged/migrated.

Among the states, Maharashtra remains the worst-affected with 62,228 COVID-19 cases, followed by Tamil Nadu (20,246), Delhi (17,386) and Gujarat (15,934).

The fourth phase of the nationwide lockdown imposed as a precautionary measure to contain the spread of COVID-19 is slated to end on Sunday.

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News Network
February 18,2020

New Delhi, Feb 18: India emerged as the world's fifth-largest economy by overtaking the UK and France in 2019, says a report.

A US-based think tank World Population Review in its report said that India is developing into an open-market economy from its previous autarkic policies.

"India's economy is the fifth-largest in the world with a GDP of $2.94 trillion, overtaking the UK and France in 2019 to take the fifth spot," it said.

The size of the UK economy is $2.83 trillion and that of France is $2.71 trillion.

The report further said that in purchasing power parity (PPP) terms, India's GDP (PPP) is $10.51 trillion, exceeding that of Japan and Germany. Due to India's high population, India's GDP per capita is $2,170 (for comparison, the US is $62,794).

India's real GDP growth, however, it said is expected to weaken for the third straight year from 7.5 per cent to 5 per cent.

The report observed that India's economic liberalisation began in the early 1990s and included industrial deregulation, reduced control on foreign trade and investment, and privatisation of state-owned enterprises.

"These measures have helped India accelerate economic growth," it said.

India's service sector is the fast-growing sector in the world accounting for 60 per cent of the economy and 28 per of employment, the report said, adding that manufacturing and agriculture are two other significant sectors of the economy.

The US-based World Population Review is an independent organisation without any political affiliations.

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News Network
March 2,2020

New Delhi, Mar 2: Senior Congress leader P Chidambaram on Sunday hit out at Union Home Minister Amit Shah for his comments that no one from the minority community will be affected by amended Citizenship Act and asked why then was the community excluded from the law in the first place.

Addressing a rally in Kolkata, Shah assured people of the minority community that not a single person will lose citizenship due to the Citizenship (Amendment) Act (CAA).

"The Home Minister says that no minority will be affected by CAA. If this is correct, they should tell the country who would be affected by CAA. If no one would be affected by CAA, as it currently is, why did the government pass the law?

"If the CAA aims to benefit all minorities (no one will be affected, says HM), then why are Muslims excluded from the list of minorities mentioned in the Act?," the former finance minister asked in a post on Twitter.

At his first public rally in Kolkata after the 2019 general elections, Shah said, "The opposition is terrorising the minorities. I assure every person from the minority community that the CAA only provides citizenship, does not take it away. It won't affect your citizenship."

"The opposition parties are spreading canards that refugees will have to show papers but this is absolutely false. You don't have to show any paper. We will not stop until all refugees are granted citizenship," Shah told the public.

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