GST - Easier to do Business in India - World Bank President
SPEAKING at the "Vibrant Gujarat" conference, World Bank President Jim Yong Kim said,
I 've been very encouraged by the recent proposal of a Constitution Amendment bill for a Goods & Services Tax (GST), which offers an opportunity to make it substantially easier to do business in India. A GST will create one common market and substantial savings for companies on logistics, especially if its structure is uniform.
We project that India will be a bright spot in an otherwise mediocre global economic outlook. According to our projections, its economy is expected to grow 6.4 percent this year and even faster in 2016. In addition, Prime Minister Modi and his government are quickly putting in place the building blocks for even more rapid growth, streamlining the national regulatory structure, using public funds more efficiently, and promoting social inclusion.