GST would be giving much more emphasize on the 8 percent growth of India as speculated by S&P Global. The report said that “India’s GST passage gives us additional conviction around our 8%-ish GDP growth forecast over the next few years.”
It mentioned that “The GST passage is arguably the most important structural reform to date by the Modi government and will improve efficiency, cross-state trade, and tax buoyancy.”
Read Also: GST Impact on Gross Domestic Product (GDP) in India
Meanwhile, latest statistics of gross domestic production (GDP) showed up that India has inclined towards a slow growth counted at 7.1 percent in April-June quarter in comparison with 7.9 percent in January-March.
RBI has also affirmed the same with a growth figure of around 7.6 percent in the financial year 2016-17. The S&P quoted some statements like,”For India, we are still forecasting GDP growth at about 8 percent over the next few years. Moreover, this is relatively high quality, steroid-free growth backed by a broadening consumption base.”
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