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FM Arun Jaitley expects GST to be rolled out next year

FM Arun Jaitley expects GST to be rolled out next year

Arun Jaitley presented the GST bill to Parliament in December, which needs the support of two-thirds of its members as well as ratification by state legislatures.

Finance Minister  Arun Jaitley. Photo: Reuters Finance Minister Arun Jaitley. Photo: Reuters

Finance Minister Arun Jaitley has said investments are significantly going to move up in coming days, banking on the steps taken by the government to revive the domestic economy in last seven months.

Speaking at the 7th Vibrant Gujarat Summit on Monday, the minister said: "Government has taken a lot of steps in past few months and the mood about India is very positive. I see investments significantly moving up in days to come".

"Government priorities would be to spend more on infrastructure, incentivise expenditure in manufacturing to help boost growth and create more jobs," he added.

On establishing a common tax regime, Jaitley said the Goods and Services Tax (GST) will be implemented across the country by next year. The minister had introduced the GST Bill in Parliament in December.

Investors and manufacturers have long coveted GST as a game-changer that would simplify taxes while broadening the tax base, adding as much as 2 percentage points to the size of the country.

(With inputs from Reuters)