GST to be India’s ‘economic freedom’, says Anil Ambani

Source: The Hitavada      Date: 30 Jun 2017 08:57:56


 

MUMBAI,

INDUSTRIALIST Anil Ambani on Thursday termed the Goods and Services Tax (GST), being rolled out from July 1, as India’s “economic freedom” and said it would make the country the biggest free and democratic market in the history of humankind.
Speaking here at a mutual fund industry event, the Reliance Group chairman said there are many ways of counting the benefits of GST and as many of counting its costs.


“But there is just one way of describing its true promise. GST is not just another piece of reform or transform, however significant. GST is the liberation of our economic imagination. It is our economic freedom,” he said.
Ambani said there are moments in the life of a nation when history is made not in small steps of incremental gain but in giant leaps of ambition.


“We, the people of India, are privileged to bear witness to one such moment in time,” he said, referring to the proposed rollout of GST on midnight of June 30.


“Seventy years ago, at the stroke of the mid-night hour, our first Prime Minister, Jawaharlal Nehru, spoke movingly in the Central Hall of Parliament about India’s tryst with destiny.


“At the same mid-night hour tomorrow, as our honourable Prime Minister Narendra Modi rises to address a waiting nation from the same august Central Hall, India will be set on course for another historic tryst with destiny,” he said.


Ambani said here on Thursday the free market is perhaps the greatest force for economic good in human history of all earthly inventions.


He said the free market is a force for generating wealth and transforming lives and the real promise of GST is promise of economic liberation.