Prime Minister Manmohan Singh has said that he is optimistic about the full implementation of the goods and tax service (GST) after the 2014 general election in India. He was addressing the Japanese business leaders here.
On the occasion, Singh said "India is a federation, and in a federation, there are difficulties in bringing or convincing states to agree to surrender tax power. But, I am confident that we will overcome these hurdles."
He further added, "We will work and we have been working to persuade more and more state governments to fall in line, but it does require an amendment of the Constitution of India. Amending the Constitution needs more energitic efforts than an ordinary peace of legislation.”
"So, I cannot say that we can deliver GST tomorrow, but, if you ask me by 2014 will you have a GST of the appropriate type once elections are out of way, there will be general agreement," Dr. Singh said.
On the occasion, Prime Minister highlighted the recent initiatives of the government to enhance investements and liberalise foreign investments in retail and civil aviation, the Prime Minister told business leaders here that he expects growth to be better than the previous year. He said he is expecting a growth of six percent this year.
Inviting the Japnese companies to invest heavily in the infrastructure sector, Prime Minister urged them to increase their footprint in India. He also asked Japan to make its markets more accessible to Indian pharmaceutical and information technology firms.
(With inputs from ANI)
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