The Hindu : Business : FICCI to work for implementation of GST

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FICCI to work for implementation of GST

Special Correspondent

To interact with State governments to allay their fears on loss of revenue

NEW RESPONSIBILITY:Newly elected FICCI President Harsh C. Mariwala (right) and

NEW DELHI: Taking a cue from Finance Minister Pranab Mukherjee, newly elected President of the Federation of Indian Chambers of Commerce and Industry Harsh C. Mariwala on Friday resolved to work for a consensus on the proposed Goods and Services Tax (GST).

Responding to Mr. Mukherjee's plea that industry captains and bodies should play a crucial role in rolling out the GST, Mr. Mariwala said FICCI would actively pursue the idea to sensitise States for the implementation of the new system in national interest.

Mr. Mariwala said interactions would be held with State governments to allay their fears on loss of revenue and autonomy.

Describing the GST as a historic piece of reform, the FICCI president said that it held enormous long term benefits to all sections of the industry.

He aimed at convincing the States that the lower rate of levy under the proposed GST would benefit consumers and industry and add to the government's revenue.

The focus of FICCI would be on reforms in agriculture, infrastructure development, education and vocational training and environment and emerging technologies, besides advocating FDI in retail and real estate, Mr. Mariwala said.

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