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GST Could Lead to 8% Plus Growth, Says World Bank
September 25, 2017
Calling the Goods and Services Tax a “tectonic shift” in the country’s taxation regime, World Bank India chief Junaid Ahmad said that it has increased the possibility of a growth rate of 8% or even more.
Ahmad, who was addressing the members of PHD Chamber of Commerce and Industry, said that the reason behind the possible 8% plus growth rate is that India has made a bold step in converting the nation into one market. He added that if GST is implemented correctly, it can give a huge boost to the economy. However, service delivery mechanism of basic infrastructure such as water system, solid waste management, etc. remains to be one of the biggest challenges for the country.
