The reserve bank of India got a new governor namely Shaktikanta Das, who was also a former economic affairs secretary and also the member of finance commision currently.
The previous governor Urjit Patel resigned citing personal reason though it was very much evident that there was some clash between the former RBI governor and government.
The new RBI governor is the important player in mobilizing all the tactics of government both the goods and services tax regime and the demonetization drive flushing out high denomination currency.
Shaktikanta Das held all the significant positions in the economic environment of the government as well as in the RBI becoming Union revenue secretary, the government’s representative at the Group of 20 summits and the Central Board of Directors of the RBI.
This makes him very much eligible for the new key position as a governor of RBI. The new governor was highly included in the rollout of goods and services tax and the demonetization drive as he made the public appearance from the sides of government and not from the RBI.
Overall, the newly appointed RBI governor Shaktikanta Das is expected to bring both the government and the reserve bank of India to the same ground for a better consensus over financial and economic tussle.
Goods and services tax is an indirect tax regime having CGST, SGST, IGST and UTGST as key components for tax collections. The taxpayers have to mandatorily register under the GST with having the turnover of more than 20 lakhs.
While the demonstration was the ban of high-value currency across the country to curb black money.
