Vice-President Venkaiah Naidu calls GST 'India's most revolutionary tax reform ever'
New Delhi: Vice-President Venkaiah Naidu on Friday said discussions on economy and GST should go on and that such debates and consultations are always good for democracy.
In the long run, GST will be beneficial for all, the vice-president asserted.
"Discussions are going on about the country, its economy and also GST - its effects, after-effects and side-effects. Let the discussions go on. It is always good for democracy," Naidu said during his speech at the International Conference on Technological Advancements in Railway and Metro Projects.
Speaking on a day when the GST council is meeting in Delhi, the the vice-president said that people must understand that any transformation, any reformation face "some initial hiccups, some teething troubles".
"But at the end of the day, the PM's mantra of reform, perform and transform has a meaning," he said, adding that GST is India's most revolutionary tax reform ever.
Quoting news reports, Naidu said that the World Bank and big multinational companies have also endorsed GST and that future generations of Indians will be happy with this tax reform.
He also said that the political debate on GST should be allowed to go on and the government of the day will take a note of the positive and the critical points and then "take corrective measures".
"With about 8 lakh crore brand investments opening up FDI in retail infrastructure and the implementation of GST, I am sure the Indian Railways, particularly the long-distance transport, will stand to benefit in the years ahead," he said.