New Delhi: Chief Economic Adviser Arvind Subramanian on Saturday exuded the 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 1-2 months,” Subramanian told media after attending the GST rollout ceremony held in Parliament. 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 KV 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 in time.”
AIADMK member Navaneethakrishnan said, “It is the right move. GST will benefit both consumers and traders.” Former West Bengal finance minister and CPM leader Asim Dasgupta said, “I am happy that the GST has come into existence. There are certain things regarding procedure and issues related to rates, we should sit down with traders. I am sure the council will take care of these things.”