GST is not a big deal for the Indian economy: BJP leader Subramanian Swamy

Mumbai: BJP Rajya Sabha MP Subramanian Swamy said on Thursday that the passage of the bill facilitating the Goods and Services Tax (GST), being hailed as the biggest indirect taxation reform, will "not benefit" the economy significantly.

"I don't think GST is going to be a game-changer. If it comes, it is ok. If it doesn't come also it is ok," he said, speaking at the industry lobby Indian Merchant Chamber (IMC) in Mumbai.

" is not big deal for the Indian economy. There is a feeling that it will simplify the tax system, I have no objection to it," he said.

A file photo of Subramanian Swamy. PTI

A file photo of Subramanian Swamy. PTI

It can be noted that the industry has been pegging an increase of upto 2 percentage points in the GDP growth just by the passage of this legislation which is stuck for many years now under two Union governments.

Swamy also noted that Prime Minister Narendra Modi had objected to the GST when he was the Chief Minister of Gujarat, and now the Tamil Nadu CM J Jayalalithaa is objecting to it.

"At one stage, when Mr Narendra Modi was the Chief Minister, he took objections and wrote a letter to the government," he said.

Union Finance Minister Arun Jaitley said earlier this week that most of the states barring Tamil Nadu have come on board on the long-pending Goods and Services Tax bill and expressed hope of pushing the legislation in the upcoming Monsoon Session.

Updated Date: Jun 17, 2016 08:02 AM

Also Watch

It's A Wrap: Omerta star Rajkummar Rao in conversation with Parul Sharma
  • Thursday, April 26, 2018 In the Kanjarbhat community, a campaign against 'virginity tests' is slowly gaining ground
  • Thursday, April 19, 2018 Watch: National-level skater and coach Dhwanit Rele trains and nurtures budding athletes
  • Monday, May 14, 2018 FOMO Episode 1: Google Assistant, This is America, Sonam's wedding & Global Warming
  • Saturday, May 19, 2018 Social Media Star: Rajkummar Rao and Bhuvan Bam open up about selfie culture, online trolls

Also See