Vice President M Venkaiah Naidu on Thursday said the country’s Goods and Services Tax would usher in long term gains despite initial problems.
In his valedictory address at the Tamil Nadu Global Investors Meet (GIM) 2019, he said that the entire world is going to take a cue from the GST experiment so that there is no pilferage, no leakage and there is no waiting. Doing business in India has become cheaper and faster through GST and other tax reforms.
He added that the Centre’s aim was ensure that everything went digital, thus eliminating corruption.
He stated that today, India is a land of infinite possibilities and tremendous opportunities and that the reforms taken by the government in the past few years has made India the top destination for investments in the world.
He further added that Prime Minister Narendra Modi has ensured that the fundamentals of the Indian economy stay strong as it continues on the growth trajectory through various measures and reforms.
In 2018,due to the robustness of its institutions, India managed to maintain its steady course despite external vulnerabilities, increasing oil prices and trade wars brewing between major global trading partners.
