GST, currency change to be game changers for economy: Arun Jaitley

Arun Jaitley said, "More money will come to the banks which will be used fruitfully for the betterment of the economy."

By: PTI | Bhubaneswar | Updated: December 1, 2016 5:14 pm
Arun jaitley, Jaitley, Finanace minister Arun jaitley, demonetisation, demonetisation arun jaitley, demonetisation effects, Currency, GST, Goods and services tax, GST Arun Jaitley, Indian economy, economy, indian banks, India GST, Business news, indian express news Union Finance Minister Arun Jaitley. PTI Photo

Rejecting apprehensions that the Indian economy would suffer due to demonetisation, Finance Minister Arun Jaitley on Thursday termed as “game changers” the pulling out of high-value old notes as well as Goods and Services Tax, which is proposed to be rolled out from April 1.

“I do believe that both (GST and demonetisation) will be game changers. This is because GST will ensure higher taxation as far as the Centre is concerned and also higher taxation for states. It is an efficient system. It blocks leakages. It will certainly help the consuming states like Odisha,” he said.

Jaitley was speaking at the “Make in Odisha” conclave here.

On the hue and cry over the demonetisation exercise, he said: “As far as currency changes are concerned, once the demonetisation process is completed and the economy gets back to full stream, the size of the GDP will significantly expand, tax base will expand.”

He added, “More money will come to the banks which will be used fruitfully for the betterment of the economy.”

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First Published on: December 1, 2016 5:07 pm
  1. E
    Earthkeeper
    Dec 1, 2016 at 10:40 pm
    2019 will be a game changer for your party lt;br/gt;All your antinational slogans will be muted
    Reply
    1. M
      Mahesh
      Dec 1, 2016 at 2:26 pm
      Tired of game changes for past 2 yrs. Indian citizens want a plain, simple administration.
      Reply
      1. O
        Ompuri
        Dec 1, 2016 at 9:57 pm
        Bure deen take two has started pls fasten your belts (dhotis). By making fascist fekoo masiha or bhaghwan foolish people of India deserved it. Emoney GST more power for IT department. Modi has Israelis as God fathers and he will turn india in to fascist state like Israel.
        Reply
        1. S
          SubbuI
          Dec 1, 2016 at 1:21 pm
          LET THIS SIDE KICK WIN A ELECTION AND TALK HIS ARTHA SASHTRA PREDICTION. WHEN AMRINDER SINGH BECOMES PUNJAB CM AFTER EMLY ELECTION IF JAATLY HAS MARBLE LET HIM WIN AMRISTER SEAT AGAINST SIDDU WHO WILL FIGHT AS CONGRESS CANDIDATE
          Reply
          1. G
            Goyal Anandilal
            Dec 1, 2016 at 11:59 am
            Issue of KVP of 50000/-,new notes of 500 and 2000/- denominations ,lt;br/gt;why?when high denominations value notes old notes of 500 and 1000/- were withdrawn
            Reply
            1. R
              Raj
              Dec 1, 2016 at 1:35 pm
              I think the demonetization was a good move. Any shakeup of the current system is a good move - I would probably state that the government should ban all non account related payments from all state owned companies.lt;br/gt;lt;br/gt;They should demand all government contractors only make bank transactions in all their expenditure if they are seeking to win tenders.lt;br/gt;lt;br/gt;This will eradicate all under hand channels overnight.
              Reply
              1. A
                Avi
                Dec 1, 2016 at 12:41 pm
                What about 1.4 lakh crore cess you took from public and which you have misappropriated to your party funds and personal accounts?
                Reply
                1. D
                  Delip Chauhan
                  Dec 1, 2016 at 3:24 pm
                  Sir my idea or suggestion is simple I do not want to hurt any body feeling a truth salt is salt sweet is sweet bitter is bitter .
                  Reply
                  1. A
                    arjun singh
                    Dec 1, 2016 at 12:21 pm
                    Though it was a well intended move...a lot more needs to be done take the mango man into confidence.
                    Reply
                    1. I
                      Irfan
                      Dec 1, 2016 at 12:22 pm
                      Although their could be political interests behind demonetization move but this move will definitely prove to be in nations interest. Its time for all of us to join hands together and fight against corruption.
                      Reply
                      1. J
                        jabesh
                        Dec 1, 2016 at 12:05 pm
                        Every move of their own is game changer or masterstroke. Enough is enough.
                        Reply
                        1. J
                          Jimmy
                          Dec 1, 2016 at 5:58 pm
                          Vypam Scam by BJP too was a game changer. They party whose violent goons were flogging dalits and Lyching minorities is trying to mislead w Nations. BJP leade spent 500 crores on the marriage of his daughter, another NDA leader built bullet proof Tiolets while w country wa put in queue.
                          Reply
                          1. S
                            Satendra kumar
                            Dec 1, 2016 at 12:22 pm
                            Demonetisation and the centrally taxation system for all states plus GST will benefit the entire country especially the economic growth.
                            Reply
                            1. M
                              Manish
                              Dec 1, 2016 at 12:18 pm
                              After independence first time government is doing something good. We all should forget short term inconvenience and must support this bold move. Congress has looted us for long now time to build a strong, corruption free nation.
                              Reply
                              1. M
                                mumbikar
                                Dec 1, 2016 at 11:01 pm
                                chusley, enough of your BS !!!! please go into hiding, we are better off without morons like u and ur bosses !!!! everyday a new lie, so much so, u are now caught in your own web of lies and can not get out.
                                Reply
                                1. M
                                  Mayur Panghaal
                                  Dec 1, 2016 at 12:40 pm
                                  Just like surgical strikes were game changer for terrorism.lt;br/gt;Feku has turned entire country into a basket case.Helter skelter all around.chaos beckons.Not many knowthat gst will increase prices of all products.yerday opec announced cut in production of oil sending prices to $50 a barrel.lt;br/gt;Anarchy beckons.
                                  Reply
                                  1. M
                                    Mayur Panghaal
                                    Dec 1, 2016 at 2:32 pm
                                    If cong looted why sonia and vadra are out of jail ??lt;br/gt;Not even an FIR filed in 2.5 yrs of Feku raj !!lt;br/gt;When kejriwal filed FIR on Sibal ,moily,ambani and dixit,feku took away ACB from Kejriwal.lt;br/gt;janta sabak sikhayegi.
                                    Reply
                                    1. B
                                      Bharat Maa
                                      Dec 1, 2016 at 2:06 pm
                                      He has not even won this time forget about next.
                                      Reply
                                      1. V
                                        Vihari Naidu
                                        Dec 1, 2016 at 12:51 pm
                                        I am paying my worker in check. That's truly transformative.
                                        Reply
                                        1. P
                                          Punit
                                          Dec 1, 2016 at 12:14 pm
                                          Indeed these two moves will bring lot more positive changes. Just matter of time.
                                          Reply
                                          1. R
                                            Rasikan
                                            Dec 1, 2016 at 1:08 pm
                                            bURNOL
                                            Reply
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