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Home Economy

India celebrates launch of GST

Fiinews by Fiinews
July 1, 2017
in Economy
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Single tax to benefit all, says Prime Minister Modi.

Modi, the Members of Parliament and other dignitaries at the ceremony to launch the GST.
India embarked on one of its biggest economic reforms on 1 July 2017, with a ceremony from Parliament witnessed by its 1.25 billion citizens.

The historical launch of Goods and Services Tax (GST) is a testimony to the concept of Co-operative Federalism in Indian Democracy, said Prime Minister Narendra Modi.

This hallmark day was possible due to the relentless efforts put in over decades by several stalwarts under whose guidance various teams developed this GST framework, the Prime Minister said in crediting all previous governments drive to have a single tax regime in the country.

“This path that we have tread upon, the direction that we have selected, the system that we have developed has not seen the light of the day because of just one team, or one government. This is a shared heritage. The combined efforts of all led us to this accomplishment. And here we are, unified, heralding the red letter day at 12 AM in this Central Hall,” he said.

“This is the same place which has been blessed by the footprints of many great national leaders.

We are honoured to be sitting in the same sanctum. Let us reminisce the 9th of December, 1946 when this same Central Hall witnessed the first meeting to discuss the country’s Constitution. Today we share the same place of pride. The front seats of this hall were ordained by the iconic national heroes like Pandit Jawaharlal Nehru, Maulana Abul Kalam Azad, Sardar Vallabh Bhai Patel, Baba Saheb Bhimrao Ambedkar, Acharya Kripalani, Dr. Rajendra Prasad, Sarojini Naidu.

The same House which once on 14 August, 1947, at the stroke of the midnight hour, witnessed the most pious moment of the nation attaining freedom! On 26th November, 1949, this House stands as a testimony to the historical event when the Constitution was accepted by the nation,” said Modi.

“With the launch of GST, Team India has proven its potential and diligence. This GST Council has developed such systems wherein the underprivileged gets all the promised facilities.

The people connected with GST have gone beyond politics and unanimously contributed to ensure welfare of the poor class.

“All states are slated to gain immensely as they shall now get equal opportunities of development,” he said. fii-news.com

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