As the government came a step closer to implementing GST from July 1 after finialising the rates of over 1200 products, Union Minister Arjun Ram Meghwal has described 2017 as year of economic reforms for India, and said that the decision to implement Goods and Services Tax (GST) regime from this July 1 is one of the important economic reforms and would be a major milestone in the growth of the country. He further said that government's Pradhan Mantri Mudra Yojana, start-up and stand-up programs will help to improve the economic level of the people and economic disparities between the poor & the rich in the country will be reduced by 2020.
Union Minister pointed that demonetisation helped improve the Gross Domestic Product (GDP) of the country despite apprehensions from certain quarters, noting that the growth has gone up and would reach 10 per cent. Meghwal also mentioned the International Monetary Fund’s (IMF) positive perspective about the country which has said that Indian economy would be in a commanding position by the year 2030.
He said that digital transactions have gone up after demonetisation and South India in general and Karnataka in particular is leading this national trend. He added that the move was a reflection of the futuristic vision of Prime Minister Narendra Modi and the country was set to become a world power with these bold decisions.