Teething problems of GST to be resolved in two months, says CEA Arvind Subramanian

New Delhi: Chief Economic Adviser Arvind Subramanian on Friday exuded confidence of resolving teething problems of GST implementation in one-two months.

"There will be some hurdles initially. But we will be able to remove them in one-two months," Subramanian told media after attending the GST rollout ceremony held in Parliament.

Chief economic advisor Arvind Subramanian.  PIB

Chief economic advisor Arvind Subramanian. PIB

Describing the GST as a "disruptive change", President Pranab Mukherjee in his speech said there are bound to be some teething troubles which will have to be resolved quickly to ensure growth momentum of the economy is not impacted.

"Initially, there will be some problems, but both Centre and states are determined to resolve them," Central Vigilance Commissioner K V Chowdary said.

GST is an important move, he said, adding, it will curb black-marketing and improve ease of doing business.

Asked if prices of some goods will shoot up with GST in place, he said, "That is not correct, when the government has said it is revenue-neutral GST. The government is not earning additional revenue."

Asked if GST will spur economic growth, Senior BJP leader and former finance minister Yashwant Sinha said, "Let's wait and see. It is difficult to predict at this point of time."

AIADMK member Navaneethakrishnan said, "It is the right move. GST will benefit both consumers and traders. Prices will not increase. Tamil Nadu is fully prepared. All infrastructure is in place for smooth implementation."

"I am happy that the GST has come into existence. There are certain things regarding procedure and there are issues related to rates, we should sit down with traders. I am sure the council will take care of these things," former West Bengal finance minister and CPM leader Asim Dasgupta told PTI after the GST launch.

"I came here with concurrence of my party CPI-M because I was connected with the framing of the GST. I was chairman of Empowered Committee on GST way back in 2009. I find that the framework is still there."


Updated Date: Jul 01, 2017 13:14 PM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See