BENGALURU: NITI Aayog Vice Chairman Dr Rajiv Kumar has said that GST was one of the most successful reforms of the present government.
During his address at the ‘Future of Indian Economy’ at 49th Regional Conference by Southern India Regional Council (SIRC) of the Institute of Chartered Accountants of India (ICAI) in Bengaluru on Friday, he said the ten years of UPA-1 and UPA-2 was a ‘lost decade’. “However the economy was on an auto-pilot mode, which would have achieved 7-8% in any case. But it needed some nurturing on some of the reforms, promotional activities, exports and labour etc.”
He said the UPA government took the reform for granted and played much more on equity and distributed reforms like right to information, right to education, national food security and national advisory committee, which led the national policy making move in a different direction.
The two-day conference titled ‘Srestatha’ which will be expecting nearly 3,500 Chartered Accountants will deliberate upon a range of topics related to the growth of nation.
Inaugurating the event, D.H. Shankaramurthy, Chairman of Karnataka Legislative Council, said, “Years of British rule has created a mindset to skip tax; where people used to say why we should pay the taxes to those who rule us. Even today not even 5 per cent of people are filing returns. The GST will avoid tax evasion and the people are overwhelmingly supporting it.”
SIRC Chairman Cotha S Srinivas said, "The need of the hour for the profession and professionals is to ‘Think differently, Act perfectly’.
