Expressing need of effective implementation of policies in the country, PHD Chamber of Commerce and Industry (PHDCCI) President Anil Khaitan has said that ease of doing business scenario in India has not improved, as the country is still facing challenges like corruption at lower levels. He further noted that after the announcement of policies if they are not getting implemented, then they come in the category of dead policies and so the government should ‘walk its talk’ in implementation of policies.
PHDCCI President predicted that gross domestic product (GDP) growth will remain lower in the range of 5.7%-5.9% in the September quarter and 6%-6.55% in the entire fiscal, due to sluggish investment by the private sector and below par growth rate of exports. However, Anil Khaitan expects a robust GDP growth in January-March quarter of 2019 and improvement in the private investment cycle from January-March 2019.
While talking about the initiatives taken by the government, PHDCCI President noted though the demonetization have improved the government’s tax revenue which it never received, it will take at least another 14 months for businesses to tide over the negative impact of demonetization. He further terming the Goods and Services Tax (GST) as an ‘excellent tax’, raised need of simplification in it for businesses.