INTEGRATE INDIRECT TAXES WITH GST IMPLEMENTATION: VIRMANI

INTEGRATE INDIRECT TAXES WITH GST IMPLEMENTATION: VIRMANI

INTEGRATE INDIRECT TAXES WITH GST IMPLEMENTATION: VIRMANI

 

No.PR-195
February 17, 2016
New Delhi
 

INTEGRATE INDIRECT TAXES WITH GST IMPLEMENTATION: VIRMANI
 

Economist and Chairman Policy Foundation, Mr. Arvind Virmani on Wednesday demanded integration of all indirect taxes to enable India move forward and sought that GST implementation ought not to delay now.
 

He also pitched for enactment of bankruptcy laws to help Indian banking system to recover bad loans as the state own banks are the worst victims of such loans and their recovery will strengthen the market capitalization of the banking system as a whole.
 

Addressing the Managing Committee Meeting of the PHD Chamber of Commerce and Industry here today, Mr. Virmani asked business and industry people to constantly engage with hammering exercise on placement of GST.
 

“Bankruptcy laws are the need of the hour and delay in their enactment will only further delay the recoveries from the banking system, therefore, India should hurry up and put bankruptcy enactment on top priority”, he said.
 

According to him, China will further slowdown to about 4% by 2020 though with current pace of its slowdown, it is still creating additional capacities for global demand but its slower growth would be good for India and China will stop creating capacities after its growth has slipped to annual growth rate of 4% in next few years.
 

The Managing Committee Meeting of the PHD Chamber was presided over by its President, Dr. Mahesh Gupta in which its Senior Vice President, Vice President and Secretary General Mr. Gopal Jiwarajka, Mr. Anil Khaitan and Mr. Saurabh Sanyal were present among others.
 

Ends.

Koteshwar Prasad Dobhal
Consultant (PR)