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GST has transformed economy: PM

GST

New Delhi: Almost a month after the GST rollout, Prime Minister Narendra Modi on Sunday said it has transformed the economy and marks an example of cooperative federalism as states have been partners in all the decisions related to the new indirect tax regime.

Referring to the GST which was rolled out on July 1, the prime minister said, “one nation, one tax — how big a dream has been fulfilled.”

Underlining that GST is more than just a tax reform; he said it ushers in a new culture.

“GST has transformed the economy,” Modi said.

“GST, which call ‘Good and Simple Tax’, has really made a very positive impact on our economy and in such a short span of time,” he added.

He said the speed at which the smooth transition, migration and new registration has taken place has led to a new confidence in the country.

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