Implementation of the Goods and Services Tax (GST) from April 1, 2017 would further improve India’s competitiveness and ease of doing business ranking, finance minister Arun Jaitley said. The finance minister’s remarks come after the World Economic Forum released the Global Competitiveness Index, according to which India climbed 16 places to the 39th spot in the index among 138 countries as against 55th position last year.
“It (Global Competitiveness Index) significantly holds a mirror on where we are doing well and what we need to improve. And I think, keeping the popular aspirations and reform agenda of the government, there is a possible continuous improvement in the goods market through the GST. I am sure that this momentum in the last two years, when we moved from position 71 to 39, there is a consistency and therefore we also know where we are to improve,” Jaitley said.