Sunday, 2 July 2017

GST or Goods and Services Tax has been introduced

From July 1 inwards there will be single tax code for goods and services. And producers do not have to pay tax at borders of every state. One tax to the central government is enough. But Indian economy functions by itself, people make things(on small scale)which other people need. And the poor work as laborers, drivers,carpenters, masons, maids, baby sitters etc etc and none are having fixed wages or recorded incomes. So how is GST going to bring "ALL" under tax scheme.
After demonetization policy implemented seven months ago, this is going to affect Indian economy in a big way. Although it is assured that in two years after GST, economy will improve, there is no guarantee. Because economic forces all around the world is going to affect India drastically.
India needs a different strategy for growth. Like we need to teach the small entrepreneurs to make products which can be exported. Fertilizers(chemical) will be provided to the farmers without tax and with subsidies. But the chemical harms the people who consume the crop used to grow on these. There is no promotion for natural fertilizers like neem or organic fertilizers like cow dung. All these is not thought through. God save us from these policies.

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