Chennai: Goods and Services Tax Bill is a strong yet simple platform in India, which can deal with the import/export of goods inside the state boundaries, said the industry body Assocham denoting GST as the ‘Brahmastra’ of the country. The current procedure of moving goods and services within the country has got various tasks involved making the whole process a bit difficult.
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As per the president Sunil Kanoria, Assocham, “it is more difficult to move trade within the country than moving it externally (outside India). GST is a Brahmastra for the country. Actually, we need to have a simple platform to move goods within India than we move goods outside the country,” said Kanoria to the reporters. “We believe GST is possible and expect it to be passed during the monsoon session of Parliament. To the Tamil Nadu government, we will appeal to support the GST,” he added.
Tamil Nadu is a big state in terms of both manufacturings and consuming, said Madras Chambers of Commerce and Industry President, S G Prabhakaran.
“It (GST Bill) will have a multiplier effect across states in the country. It is our endeavour to seek Tamil Nadu government to support it (GST),” said Prabhakaran.
Kanoria, after discharging the ‘Action Agenda for the New Government’, a collaborative effort of Assocham and the Ministry of Commerce and Industry, said, Tamil Nadu solely has the capacity for 90 lakh job employment opportunities and can deal in investments worth Rs. 22 lakh crore.
According to the reports, “Eradication of poverty and illiteracy, improving standard of living, reducing gender and regional inequality and improving the infrastructure are key areas that need to be focused on by the new government to drive the state towards a new growth strategy.”
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The reports show that during the period between 2006-07 and 2015-16, Tamil Nadu has been proceeding at a composite yearly growth of around 16 percent and made the investments attracted of about Rs. 11 lakh crore.
Various other sectors like textile, garments, and leather were needed to be revived as well because they involve various small scale industries in a huge number.
