GST is a commendable reform done by India: World Bank CEO
Our Correspondent / NEW DELHI
Prime Minister Narendra Modi has said that ease of Doing Business will lead to Ease of Life for every Indian. Speaking at an event- India’s Business Reforms in New Delhi today, Mr Modi said, GST was a commendable reform done by the country and it will benefit the ease of doing business. Prime Minister said, he is committed for the development of the country and to further improve India’s ranking in ease of doing business. Mr Modi said, he does not want to sleep over 30 place jump in ease of doing business ranking but wants to do more.
The Prime Minister said, the issues raised by traders and businessmen on GST have been positively accepted and GST Council will make necessary changes at next meeting. Mr Modi said, technology should be used to improve governance and efforts are being made to make India technology-driven society. He said, India is moving towards becoming a knowledge-based, skill developed and technology-driven economy. Mr Modi said, more than 90 percent FDI approval are taking place through automatic route.
Addressing the gathering, World Bank CEO, Kristalina Georgieva said, GST is a commendable reform done by India. She said, the GST reform creates an incredible opportunity for India to grow and it is commendable to see such a huge jump in a country as large as India. She said, the strength of corporative and competitive federalism is the foundation of growth of an economy. Ms Georgieva also said, improvement in India’s ranking in ease of doing business by world bank is impressive and Foreign Direct Investment has been increased under Prime Minister Narendra Modi’s leadership.
Speaking on the occasion, Commerce Minister Suresh Prabhu said, the government intends to make India a global destination for trade and commerce. He said, Centre has taken a number of initiatives in the last three years and the country is witnessing a paradigm shift in ease of doing business. Mr Prabhu said, India has jumped 30 positions and this jump is made possible with the Prime Minister’s mantra of reform, perform and transform.