GST bill to further boost domestic demand, create more job opportunities: PM

Prime Minister Narendra Modi talking on the issue of goods and services tax (GST), has said that the new tax regime will further boost domestic demand, create more opportunities for Indian business and drive job creation.

He said that currently in India, there are various taxes being managed differently by Central and state government which have made goods and services more expensive. This has hampered growth in inter-state commerce. He further said that they are enacting a Goods and Services Tax law, to create an integrated national market so everything will get replaced by one single point of taxation, adding that this will help to boost the domestic demand thereby creating more job opportunities in the country.

PM also said that India is today the fastest growing major economy, and one of the most attractive destinations for FDI. He added that indeed, they stand out as a bright spot in the global economy. This is the result of India's fundamental strengths- democracy, demographic dividend and demand. They need to fully harness these strengths and this can happen only if businesses make long-term investments that create jobs and sustain economic growth.

Modi said that India is experiencing a digital revolution which is bridging the digital and economic divide in the society in general and rural society in particular. A boost to the rural economy through this revolution will make the Indian economy even more robust.

.