GST implementation textbook example of how not to implement it: Yashwant Sinha

On demonetisation, Sinha said no rich people suffered hardship and it was the poor who stood in the queue and lost their lives.

Published: 24th November 2017 12:09 AM  |   Last Updated: 24th November 2017 12:09 AM   |  A+A-

BJP leader Yashwant Sinha (File | PTI)

By PTI

PUNE: Without mincing words, senior BJP leader Yashwant Sinha today said the implementation of the Goods and Services Tax in India was a "textbook example" of how it should not be introduced.

"The GST is the best indirect tax regime globally and there is no doubt about it and that is why it is adopted in most of the countries. But the way GST was implemented in India is a textbook example of how the tax reform should not be implemented anywhere," he said.

"It should be a case study at Harvard and other universities," the former finance minister said.

Sinha, who has targeted the Narendra Modi government on many occasions in the past, had been invited to deliver a lecture on the GST and demonetisation by a city-based organisation.

Incidentally, disgruntled BJP MP from Maharashtra, Nana Patole, too was present.

Sinha said the government is bringing some changes in the GST slabs, but these are "ad-hoc" measures. "All these ad-hoc measures are not enough," he said.

The government should urgently rope in economist Vijay Kelkar, the original architect of the GST in India, and make positive reforms in the GST to steer the economy out of trouble, Sinha said.

He said multiple tax slabs had resulted in "lobbying" for lower rates.

On demonetisation, Sinha said no rich people suffered hardship and it was the poor who stood in the queue and lost their lives.

"Factors like non-performing assets of banks and stalled projects are still making adverse impact on the economy," he said.

International prices of crude oil dropped in a big way since the present government came to power, but common people did not get its benefit, Sinha said.

Democracy in India is very deep-rooted. "If (Robert) Mugabe has to go, nobody is secure. The roots of democracy in India are so deep that no one can move them and if someone attempts to do so, he will be destroyed," he said.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

facebook twitter whatsapp