NITI Aayog which is the policy think tank of the country is suggesting ways for transforming India. In addition to this NITI Aayog’s CEO, Amitabh Kant, on Goods and Service Tax (GST) said that it will make India a formal, easier, and simpler and a more revenue generating economy.
Kant on Twitter tweeted that “GST will make India a formal, easier & simpler, a more revenue generating economy & 1 tax, 1 country economy. Will give a push to #MakeinIndia”. While in another tweet he wrote,”Artificial Intelligence will add $15.7 trillion to the global economy by 2030 which is more than the combined output of China & India”.
He said that GST with a simplified compliance model & free flow of goods & services, Indian Startup & E-commerce scene will get a big impetus.
GST will be rolled out nation-wide from midnight tonight, overhauling India’s convoluted indirect taxation system and unifying the over USD 2 trillion economy with 1.3 billion people into a single market. Prime Minister Narendra Modi will head the event which is going to held in August Central Hall, India.