NEW DELHI: Prime Minister Narendra Modi lately spoke of targeting double-digit GDP enlargement for breaking into the $5 trillion economic system club and said India's share in global industry must be doubled to 3.4 consistent with cent.
Speaking after laying the root stone of a new administrative center advanced of the Ministry of Commerce here, he said his executive has in four years taken steps to ease the method of doing trade in India while keeping up macroeconomic indicators like current account deficit (CAD) within limits.
He said GDP enlargement touched 7.7 consistent with cent in the remaining quarter of 2017-18 fiscal however now the time has come to look past 7-Eight consistent with cent enlargement and target double-digit growth.
The global, he said, is staring at as to when India will smash into the $5 trillion economic system club through doubling its economic system.
Also, the government is targeting doubling India's share in global industry to 3.4 consistent with cent, he said, stressing on decreasing dependence on imports in sectors like oil through domestic production.
Listing out achievements of his executive, he said the rustic has moved clear of a culture of delaying work through 'atkana, latkana and bhatkana' (obstructing, delaying and misguiding).
The Goods and Services Tax (GST), which changed over a dozen indirect taxes from July 1 remaining yr, has led to not simply ease of doing trade but also upward thrust in tax base, he said.
Modi said 54 lakh new taxpayers have sought registration under the new regime, taking the number of indirect tax payers to over one crore.
This compares to 60 lakh indirect tax payers in the pre-GST generation, the Prime Minister said.
Foreign direct investment inflows as well as foreign currencies reserves are at report highs, he added.
Speaking after laying the root stone of a new administrative center advanced of the Ministry of Commerce here, he said his executive has in four years taken steps to ease the method of doing trade in India while keeping up macroeconomic indicators like current account deficit (CAD) within limits.
He said GDP enlargement touched 7.7 consistent with cent in the remaining quarter of 2017-18 fiscal however now the time has come to look past 7-Eight consistent with cent enlargement and target double-digit growth.
The global, he said, is staring at as to when India will smash into the $5 trillion economic system club through doubling its economic system.
Also, the government is targeting doubling India's share in global industry to 3.4 consistent with cent, he said, stressing on decreasing dependence on imports in sectors like oil through domestic production.
Listing out achievements of his executive, he said the rustic has moved clear of a culture of delaying work through 'atkana, latkana and bhatkana' (obstructing, delaying and misguiding).
The Goods and Services Tax (GST), which changed over a dozen indirect taxes from July 1 remaining yr, has led to not simply ease of doing trade but also upward thrust in tax base, he said.
Modi said 54 lakh new taxpayers have sought registration under the new regime, taking the number of indirect tax payers to over one crore.
This compares to 60 lakh indirect tax payers in the pre-GST generation, the Prime Minister said.
Foreign direct investment inflows as well as foreign currencies reserves are at report highs, he added.
PM seeks double-digit GDP growth to get into $5 trn economy club
![PM seeks double-digit GDP growth to get into $5 trn economy club]()
Reviewed by Kailash
on
June 23, 2018
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