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PM in Lok Sabha: GST is a Great Step by Team India, Great Step Towards Transformation

Published By : Admin | August 8, 2016 | 22:50 IST
PM Modi hails passage of GST in Parliament, terms it as Great Step towards Transformation
GST is a Great Step by Team India and a Great Step towards Transparency, says PM Modi
Imminent passage of GST not a victory for any political party, but for Indian democracy: PM
Consensus over GST is proving that national issues are above politics: PM Modi
GST will bring uniformity in taxation, consumers will be supreme in the new dispensation: PM
GST would help reduce corruption in collection, as well as the cost of collection: PM
Small businesses will gain tremendously from GST, asserts PM Modi

The Prime Minister, Shri Narendra Modi, today described the Goods and Services Tax (GST) as a “Great Step by Team India,” a “Great Step Towards Transformation,” and a “Great Step Towards Transparency.”

He was intervening during the debate in the Lok Sabha on the GST Bill.

The Prime Minister noted the date – 8th August – and recalled that in 1942, on this very day Mahatma Gandhi had given the call for the Quit India Movement. He said that today, the country would begin its march towards freedom from tax terrorism.

He described the imminent passage of the Bill as a victory not for any political party, but for Indian democracy.

Recalling the discussions and parleys on the Goods and Services Tax, the Prime Minister said that he had invited both Ms. Sonia Gandhi and former Prime Minister Dr. Manmohan Singh to discuss the same. He noted that one of them was a Lok Sabha MP and the other was a Rajya Sabha MP.

The Prime Minister said that the consensus over GST is proving that Rashtraneeti is above Rajneeti (national issues are above politics) in India.

He described the GST as one more pearl in the necklace of Ek Bharat – much on the lines of the Railways, the All India Services, and visions such as Bharat Net and Sagarmala.

With GST, we intend to bring uniformity in taxation, said the Prime Minister, adding that the consumer would be supreme in the new dispensation. The Prime Minister mentioned the judicious use of man, money, machine, material and minutes (time) as an important principle of sound economic policy, and said GST would aid in achieving this.

The Prime Minister said GST would also help bring in real time data, as its strength was in technology. He said most of the things that can impact consumer inflation have been kept out of the ambit of GST. He said GST would help reduce corruption in collection, as well as the cost of collection.

The Prime Minister asserted that small businesses will also gain tremendously from GST, and will feel more secure with GST.

The Prime Minister said that the Government is focusing on economic and educational empowerment of the poor, so that we can mitigate poverty.

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The World This Week On India
December 31, 2024

India has been under the international spotlight this week, with significant developments in diplomacy, economic growth, technological advancement, and cultural recognition. From pivotal diplomatic visits to groundbreaking achievements in defense and technology, India’s story has been one of progress and influence on the world stage.

Diplomatic Triumphs

One of the focal points of this week was the achievements of PM Narendra Modi’s visit to Kuwait on Dec 21-22, the first bilateral prime ministerial visit to the Gulf nation in 43 years.
The world sees the visit PM Narendra Modi’s strategic move to strengthen ties in a region undergoing significant transitions. It not only closes a crucial gap in India’s diplomacy with the Gulf but also signals the nation’s proactive stance in navigating the complex geopolitics of West Asia.

Economic and Technological Advances

  • In the realm of finance and technology, India has made headlines by surpassing China to top the Asian IPO rankings. According to data from Dealogic for 2024, India is poised to become the world’s second-largest equity fundraising market, a testament to the robust investor confidence in the Indian market. This achievement reflects India’s economic resilience and growth potential.
  • India has also taken significant steps towards semiconductor self-reliance. The initiation of construction for semiconductor fabrication and packaging units marks a promising start in the nation’s quest to carve a niche in the global semiconductor industry. Read more about this here.
  • Additionally, India’s maritime sector is set for a transformation, with an investment of $10 billion over the next 25 years to make India one of the world’s top shipbuilding nations. This development not only aims at bolstering India’s maritime capabilities but also positions it as a key player in the global maritime industry.

Defense and Strategic Developments

  • India’s strides in defense technology have also been a topic of global conversation. The successful test of a hypersonic missile places India among an elite group of nations with such capabilities, enhancing its strategic posture in regional geopolitics. This advancement underlines India’s growing military prowess.
  • Adding to the narrative of self-reliance, Prime Minister Modi’s push for domestic production of defense equipment, including the K9 Vajra-T artillery platforms, has been highlighted. This initiative not only boosts the ‘Make in India’ campaign but also fortifies national security through indigenous innovation.

Cultural and Leadership Recognition

  • In the cultural sphere, the influence of Indian cinema was acknowledged with tributes to Shyam Benegal, an influential director known for his contributions to India’s ‘parallel cinema.’ Benegal’s work from the 1970s, which challenged mainstream Bollywood by focussing on social issues, has been celebrated, reflecting India’s rich cultural fabric on the international stage.

Religious Freedom and Vision for the Future

  • The discourse on India’s democratic ethos was enriched by statements from figures like Mary Millben, who praised India’s commitment to religious freedom as a hallmark of its democracy. Such endorsements bolster India’s image as a pluralistic society.
  • India’s goal of Viksit Bharat by 2047 as envisioned by PM Modi has received endorsement from Indermit Gill, chief economist at World Bank. Complementing PM Modi on his vision, Gill believes that India will see its prime potential over the next two decades. Read more about India’s future prospects here.

The week has painted a picture of India as a nation on the move, not just in terms of economic metrics but also in cultural, technological, and diplomatic arenas. The global coverage reflects a growing recognition of India’s multifaceted development and its increasing influence on the world stage.

From the Gulf’s diplomatic corridors to the cutting-edge labs of defense technology, from the boardrooms of American companies to the cultural dialogues of cinema, India’s story this week has been one of global engagement, innovation, and leadership.