GST Hurts Indian SMEs, says Rahul Gandhi | SupportBiz


GST Hurts Indian SMEs, says Rahul Gandhi

Mumbai: Congress Vice President Rahul Gandhi termed the former "catastrophic" to small and medium enterprises (SMEs) and the latter legalising the black money of "the country's biggest thieves". Interacting with businessmen, intellectuals and entrepreneurs in this Gujarat business, he said anger is rising among people of country over "lack of jobs" and businesses slowing down and it could become uncontrollable, according to a video posted by the party on Wednesday. Answering queries, he admitted that mistakes by Congress was a reason for Narendra Modi leading the BJP to a resounding victory in the 2014 Lok Sabha elections but said the party was improving its shortcomings.

He said 30,000 youth were entering the job market every day but only 450 jobs were being created, while China creates 40,000 employment opportunities every day. Gandhi said while half the problems with Goods and Services tax were "structural", the other half had been created by the manner in which it has been implemented. Gandhi,who is on a tour of the state ahead of assembly polls later this year, said Congress will try to live up to expectations of the people.
Traders across the country have been positive in accepting GST regime, but they need 'hand-holding' for resolving their problems, Prime Minister Narendra Modi said on Wednesday.

Hand Hold With SME Traders:

On the other hand, Chairing his twenty-second interaction through PRAGATI - the ICT-based, multi-modal platform for Pro-Active Governance and Timely Implementation, he also said that small businesses must register with the GST network, to take advantage of business opportunities.

According to an official statement, Modi said that while traders have accepting this new taxation arrangement, they need support for resolving their problems and urged the Chief Secretaries to use the district administration in this regard, so that small traders are facilitated to access and adopt the new system.

He said that the common man and the trader must benefit from this path-breaking decision and also called for sustained efforts to boost digital payments and work towards a less cash society.
The previous meetings of PRAGATI have so far seen a cumulative review of 190 projects with a total investment of Rs 8.94 lakh crore. Resolution of public grievances has also been reviewed in 17 sectors.

On Wednesday, the Prime Minister also reviewed the progress towards handling and resolution of grievances related to the banking sector. He asked the Secretary, Financial Services, to look at ways to increase the use of RuPay debit cards that have been issued to Jan Dhan account holders.