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GST is ‘Brahmastra’ for country: Assocham

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Terming the Brahmastra for the country, industry body said the country needs to have a simple platform to move goods within states.

GST is 'Brahmastra' for country: Assocham
Madras Chambers of Commerce and Industry president SG Prabhakaran said Tamil Nadu is not only a manufacturing state but also a consuming one, when compared to other states

“GST is a Brahmastra for the country. Actually, we need to have a simple platform to move goods within India than we move goods outside the country,” President, Assocham, was quoted by PTI as saying.

According to a PTI report: Stating that the present movement of goods within the country involves multiple processes, he was quoted by PTI as saying, “it is more difficult to move trade within the country than moving it externally (outside India)”.

“We believe GST is possible and expect it to be passed during the monsoon session of Parliament. To the Tamil Nadu government, we will appeal to support the GST,” he was further quoted by PTI as saying.

Madras Chambers of Commerce and Industry president SG Prabhakaran said Tamil Nadu is not only a manufacturing state but also a consuming one, when compared to other states.

“It (GST Bill) will have a multiplier effect across states in the country. It is our endeavour to seek Tamil Nadu government to support it (GST),” he was quoted by PTI as saying.

After releasing the ‘Action Agenda for the New Government,’ prepared by Assocham and the Ministry of Commerce and Industry, Kanoria said, Tamil Nadu has the potential to create 90 lakh new jobs and can attract investments worth Rs 22 lakh crore.

“Eradication of poverty and illiteracy, improving standard of living, reducing gender and regional inequality and improving the infrastructure are key areas that need to be focused on by the new government to drive the state towards a new growth strategy,” the report said.

Between 2006-07 and 2015-16, Tamil Nadu has been growing at a compounded annual growth rate of about 16 per cent and had attracted investments of Rs 11 lakh crore, it said.

Noting that agriculture is pursued by about 40 per cent of the State’s total population, the report said this sector grew by only three per cent since 1993-94 and the state government should look at doubling the growth of agriculture output.

The report said there was a need to revive sectors like textile, garments and leather as they comprise large number of small scale industries.