1 day ago
Bhargava Says GST 2.0 Shielded India From West Asia War
RC Bhargava said India’s new GST reforms helped the economy during a difficult period.
The difficult period included the effects of the West Asia war and Iran-related developments.
He said GST collections stayed at record levels even while the world faced uncertainty.
He also said the reforms helped carmakers and other industries.
According to Bhargava, India’s economic growth was stronger than many agencies had expected.
He asked governments to make it easier and faster for businesses to operate.
He also recommended using technology to reduce delays and corruption.
He said faster business growth could create more jobs and increase government revenues.
Maruti Suzuki India Chairman RC Bhargava said GST 2.0 buffered India’s economy during the West Asia war’s impact.
He said GST collections remained at record levels despite global uncertainty.
Bhargava credited the reforms with boosting automobiles and other sectors, while GDP growth exceeded many forecasts.
He urged the Centre and states to accelerate reforms, improve ease of doing business and use technology to reduce delays and corruption.
Bhargava called on political parties to support reforms that increase competitiveness, employment and equitable growth.
- Who
- RC Bhargava, chairman of Maruti Suzuki India, addressed the company’s shareholders.
- What
- Bhargava said GST 2.0 helped India withstand economic pressure from the West Asia war and boosted multiple sectors.
- Where
- The remarks were made at the company’s annual general meeting in New Delhi.
- When
- He made the remarks on Monday at Maruti Suzuki India’s annual general meeting.
- Why
- Bhargava said GST reforms supported economic activity, maintained strong collections and helped offset global uncertainty.
Key facts
- Speaker
- RC Bhargava, chairman of Maruti Suzuki India
- Policy discussed
- GST 2.0 and related GST reforms
- Economic context
- Impact of the West Asia war and Iran-related developments
- GST collections
- Bhargava said collections remained at record levels
- Industries helped
- The automobile industry and several other sectors
- Policy requests
- Faster reforms, improved ease of doing business and greater use of technology
- Expected benefits
- Lower delays and corruption, greater competitiveness, employment generation and more equitable growth
Quotes
RC Bhargava
Chairman of Maruti Suzuki India
“see the value of reforms which help to make development faster, which help to increase competitiveness of the Indian economy, and which bring about more employment generation because of larger economic activity”
thehansindia.com
“I do believe that without GST reforms, we may not have done so well in the difficult months that have elapsed”
thehansindia.com
Sources
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