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GST Bill will reduce barriers between states: RBI Governor

India Blooms News Service | | Dec 11, 2015, at 01:32 am

#GST Bill # Raghuram Rajan # Kolkata # Rahuram Rajan GST Bill # parliament

Kolkata, Dec 10 (IBNS): Reserve Bank of India (RBI) Governor Raghuram Rajan on Thursday backed the proposed Goods and Services Tax (GST) Bill and said that it will reduce barriers between states.

During a question-answer session following his lecture at the Presidency University in Kolkata, the RBI governor said it is high time to pass the GST Bill, which will enable to create one common market.

On being asked if GST is a good move for the country, he said, "Absolutely. GST has two big effects-one it could increase tax net partly bringing more people under it. Secondly, it will reduce barriers between states and create one common market. It is high time for that."

With just 10 more days left for the Parliament winter session, the GST bill might have to take a back seat under the prevalent conditions. If passed, the government can implement the new law from the next financial year.

(Reporting by Sujoy Dhar)

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