Contact Your Financial Adviser Money Making MC
22 June 2018
 |
| Prime Minister Narendra Modi (The Total Investment & Insurance Solutions |
Prime
Minister Narendra Modi on Friday spoke of targeting double-digit GDP growth for
breaking into the USD 5 trillion economy club and said India's share in world
trade has to be doubled to 3.4 percent.
Speaking
after laying the foundation stone of a new office complex of the Ministry of
Commerce here, he said his government has in four years taken steps to ease the
process of doing business in India while maintaining macroeconomic indicators
like current account deficit (CAD) within limits.
He
said GDP growth touched 7.7 percent in the last quarter of 2017-18 fiscal but
now the time has come to look beyond 7-8 percent growth and target double-digit
expansion.
The
world, he said, is watching as to when India will break into the USD 5 trillion
economy club by doubling its economy.
Also,
the government is targeting doubling India's share in world trade to 3.4
percent, he said, stressing on reducing dependence on imports in sectors like
oil through domestic manufacturing.
Listing
out achievements of his government, he said the country has moved away from a
culture of delaying work through 'atkana, latkana and bhatkana' (obstructing,
delaying and misguiding).
The
Goods and Services Tax (GST), which replaced over a dozen indirect taxes from
July 1 last year, has led to not just ease of doing business but also rise in
tax base, he said.
Modi
said 54 lakh new taxpayers have sought registration under the new regime,
taking the number of indirect tax payers to over one crore.
This
compares to 60 lakh indirect tax payers in the pre-GST era, the Prime Minister
said.
Foreign
direct investment inflows as well as foreign exchange reserves are at record
highs, he added.The Total Investment
& Insurance Solutions
No comments:
Post a Comment