Asserting that goods and services tax will be implemented on July 1 itself, junior finance minister Arjun Meghwal today said the indirect taxation reform will help government widen tax base and increase revenue.
"Tax base will definitely widen, we cannot give you a calculation at present. After demonetisation, we had done no calculation but today we can tell you that 91 lakh new tax payers have come in since then. Similarly, after GST also the tax base will grow, definitely," he told an IMC event here.
The minister added GST introduction, which he repeatedly asserted will happen on schedule on July 1 despite concerns in some quarters, will also help increase the revenue.
He said the revenue collections have grown 9.4 per cent, 16 per cent and 17 per cent in the first three years of the Modi regime and GST will help the trend continue.
The minister said 2017 will go down as the year of economic reforms, with path-breaking changes like the GST, digitalisation due to the note-ban, merger of finance and rail budgets, preponing of finance budget to get the finance bill cleared by April 1, among others.
Meanwhile, replying to a question on growth, he said the country is moving towards reclaiming its position as the biggest GDP contributor to world economy like the 37 per cent it did during the 17th and 18th centuries.
"Someone had asked Swami Vivekananda in London about what does he see? He replied saying India, which was not even independent, will be the global economic leader. That time, people doubted him. He just shut his eyes, meditated and said this. I think Vivekananda's comments will come true," the IAS officer-turned-politician said.
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