GST a tribute to maturity says President Pranab Mukherjee
The Goods and Services Tax is the biggest fiscal reform India has ever seen since Independence. GST was launched by Prime Minister Narendra Modi and President of India, Pranab Mukherjee.
President Mukherjee said at the launch, "It is remarkable that 18 meetings held so far, all decisions have been taken by consensus in the council. GST is a tribute to the maturity and wisdom of India's democracy."
He also said that the tax reform will act as a major boost to economic efficiency, tax compliance and domestic and foreign investment. He further went on to say that GST is a tribute to the maturity and wisdom of India's democracy. GST will make exports more competitive and provide level playing field to domestic industries, the President further said.
I was confident that it was just a matter of time before GST was launched, he said while adding that this was a historic moment and a culmination of a 14-year-long journey.