GST will be implemented in ‘17, digitized economy will be future of India: Jaitley

NEW DELHI
1 Jan 2017

Union Finance Minister Arun Jaitley on Sunday said that he is hopeful of the Goods and Service Tax (GST) being implemented in 2017 and confident that a digitised economy would be the future of India. “I see 2017 as a year in which GST will be implemented, and a digitized economy will be future of India,” he added.

“The last year was a very successful year for India as we continued to remain the fastest economy in the world, and I’m sure that we will maintain the same position,” Jaitley said in an interview to ANI.

Arun Jaitley Thanks People For Supporting Note Ban, Says No Incident Of Unrest Reported

 “We are now keeping the inflation under control, consequently we have seen interest rates coming down,” he added.

Jaitley also said that the process of ‘remonetisation’ has progressed extremely well and it is certain that in the days to come it will be completed. “A large amount of money, including black money, has come back into the banking system. It increases banks’ ability to lend more,” said Jaitley, citing that the activity of demonetisation was completed in a peaceful manner and well supported by citizens.

Jaitley’s statement came a day after Prime Minister Modi announced major tax rebates for farmers, small traders, senior citizens and women in a New Year’s eve address to the nation. He also urged the nation’s banking system to work for the poor and the marginalised and complimented the people for joining and supporting the government’s cleansing drive against corruption and black money.