Finance Minister Arun Jaitley on Wednesday said an annual growth rate of 7 per cent to 8 per cent was plausible for India and the rate can improve further if the global economy picks up. He said the government was hopeful of implementing from July 1 the Goods and Service Tax (GST), an indirect tax reform measure which will help the government check tax evasion. “I think for India to achieve the growth rate of 7 per cent-8 per cent is logically plausible. The Central GST Bill, the Integrated GST Bill, the Union Territory GST Bill and the GST (Compensation to the States) Bill were cleared by the Cabinet. By middle of the year (2017), we hope to see the implementation of GST,” Jaitley added.

Source: Indian Express March 22, 2017 20:23 UTC