Photo: Hindustan TimesFinance minister Arun Jaitley in his fourth budget on Wednesday outlined a blueprint for India’s continuing journey to a transparent and rules-based regime. “In the last two-and-half years, it has been our mission to bring a transformative shift in the way our country is governed. Migration of unorganized sector into the formal sector is bound to happen for two main reasons, said D.K Joshi, Crisil Ltd chief economist. “Firstly, the proposed implementation of GST will prompt many firms in the informal sector to move into the formal sector to take the benefit of tax credits. Secondly, moving towards a less cash economy will invariably bring many transactions into the formal channel,” said Joshi.

Source: Mint February 01, 2017 20:37 UTC