Mumbai – Reserve Bank of India (RBI) Governor Shaktikanta Das announced that India is at the threshold of a major structural shift in its growth trajectory and is moving towards achieving an 8 percent GDP growth rate in a sustained manner. Addressing the 188th Annual General Meeting (AGM) of the Bombay Chamber of Commerce and Industry in Mumbai yesterday, Mr. Das highlighted the multi-sectoral nature of India’s growth story.
Governor Das emphasized that India’s growth is being driven by various structural reforms, with the Goods and Services Tax (GST) playing a pivotal role. He noted that the implementation of GST has stabilized much faster in India compared to many other countries, leading to significant improvements in business convenience and efficiency.
“GST monthly collections have reached 1.7 lakh crore rupees, which signifies the robustness of this reform,” Mr. Das said. He stressed that the GST has simplified tax compliance and increased transparency, thereby contributing to the overall ease of doing business in the country.
Mr. Das’s optimistic outlook underscores the potential for sustained economic growth in India, supported by ongoing structural reforms and strong policy measures. The Governor’s remarks reflect the confidence in India’s economic prospects and the belief that the nation is poised for significant advancement in its economic journey.
