GET Stock QuotesNews18 APP
News18 English
cricketnext
»
1-min read

GST, Demonetisation to be Game Changers For Economy: Arun Jaitley

On the hue and cry over the demonetisation exercise, he said: "As far as currency changes are concerned, once the demonetisation process is completed and the economy gets back to full stream, the size of the GDP will significantly expand, tax base will expand."

Press Trust Of India

Updated:December 1, 2016, 5:03 PM IST
facebookTwittergoogleskypewhatsapp
GST, Demonetisation to be Game Changers For Economy: Arun Jaitley
File photo of Finance Minister Arun Jaitley. (Reuters)

Bhubaneswar: Rejecting apprehensions that the Indian economy would suffer due to demonetisation, Finance Minister Arun Jaitley today termed as "game changers" the pulling out of high-value old notes as well as Goods and Services Tax, which is proposed to be rolled out from April 1.

"I do believe that both (GST and demonetisation) will be game changers. This is because GST will ensure higher taxation as far as the Centre is concerned and also higher taxation for states.

It is an efficient system. It blocks leakages.

It will certainly help the consuming states like Odisha," he said.

Jaitley was speaking at the "Make in Odisha" conclave here.

On the hue and cry over the demonetisation exercise, he said: "As far as currency changes are concerned, once the demonetisation process is completed and the economy gets back to full stream, the size of the GDP will significantly expand, tax base will expand."

He added, "More money will come to the banks which will be used fruitfully for the betterment of the economy."

Read full article
Next Story
facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Infosys 876.10 -47.15 -5.11
Axis Bank 499.90 +9.50 +1.94
Tata Global Bev 200.35 +5.95 +3.06
ITC 282.20 +0.35 +0.12
Bharat Fin 883.40 +6.80 +0.78
Company Price Change %Gain
Axis Bank 499.10 +8.40 +1.71
Infosys 876.70 -46.40 -5.03
Dr Reddys Labs 1,956.45 -26.45 -1.33
Reliance 1,569.25 -6.15 -0.39
ITC 282.30 +0.50 +0.18
Top Gainers
Company Price Change %Gain
Axis Bank 499.95 +9.55 +1.95
TCS 2,542.00 +28.20 +1.12
Vedanta 301.55 +3.15 +1.06
Tech Mahindra 432.85 +4.00 +0.93
M&M 1,380.40 +10.40 +0.76
Company Price Change %Gain
Axis Bank 499.10 +8.40 +1.71
TCS 2,537.00 +24.15 +0.96
M&M 1,380.00 +8.85 +0.65
Tata Steel 630.00 +4.60 +0.74
Wipro 289.45 +1.25 +0.43
Top Losers
Company Price Change %Gain
Infosys 876.05 -47.20 -5.11
IOC 419.85 -7.50 -1.76
Bank of Baroda 144.85 -2.35 -1.60
Bharti Infratel 389.40 -5.90 -1.49
Dr Reddys Labs 1,956.30 -25.70 -1.30
Company Price Change %Gain
Infosys 876.80 -46.30 -5.02
BHEL 127.40 -2.35 -1.81
Dr Reddys Labs 1,955.00 -27.90 -1.41
Cipla 558.05 -7.65 -1.35
Lupin 928.75 -12.00 -1.28

Live TV