GST will propel revenue growth in state, lower tax burden: K M Mani

Former Finance Minister K M Mani on Thursday favoured the introduction of the Goods and Services Tax, saying Kerala was poised to make giant strides on revenue growth with its introduction.

Published: 30th June 2017 01:43 AM  |   Last Updated: 30th June 2017 08:00 AM   |  A+A-

By Express News Service

THIRUVANANTHAPURAM: Former Finance Minister K M Mani on Thursday favoured the introduction of the Goods and Services Tax, saying Kerala was poised to make giant strides on revenue growth with its introduction.

In a statement ahead of the GST’s pan-India rollout on July 1, Mani, who was chairman of the first Empowered Committee of State Finance Ministers (GST Council) in 2015, said, “through GST’s implementation, around `2 lakh crore as additional income is expected to flow into the Centre and state coffers. It will reflect on the all-round economic growth in the country,” he said.

“I am elated at getting a chance to contribute and lead the empowered committee constituted for GST implementation,” said Mani who stepped down as the empowered council’s chairman after resigning from the UDF Government.
Mani said Kerala topped the graph of per capita consumption rates, particularly in availing various services.

“GST will widen the tax net while reducing the tax burden on consumers by 20 to 23 per cent and also inflation,” he said.
“I hope it will attract more investments domestically and through FDI in export-oriented units. It was successfully experimented in countries like Singapore, Taiwan, Japan, Switzerland, Germany and China,” he said.

Stay up to date on all the latest Thiruvananthapuram news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp