Demonetisation, GST to eventually benefit entire country: Arun Jaitley

Union Finance Minister Arun Jaitley has said the demonetisation of 500 and 1000 rupee notes and proposed Goods and Services Tax (GST) will eventually benefit the entire country. Addressing the Make in Odisha conclave in Bhubaneswar yesterday, Mr Jaitley said India is the fastest growing major economy of the world and there is no doubt that the growth process will continue this year also.

The Finance Minister said as far as GST is concerned, the entire country will become one big market. The largest business summit of the state, Make in Odisha conclave attracted investment worth over 22 thousand crore rupees or 3.2 billion dollar on its second day yesterday.

style="margin-bottom: 0.0001pt; text-align: justify;">Leading business groups including the Adanis, Tatas, Hindalco and ITC announced fresh investment plans in the state. On the sidelines of the summit, SBI Chairman Arundhati Bhattacharya said her organisation is trying to connect with the Odisha Livelihood Project so that the Self-Help Groups (SHGs) can act as business correspondents in non-banking and remote areas for the benefit of common man.

The Make in Odisha is expected to play an important role in achieving the Centre's target to increase contribution of the manufacturing sector from current 16 per cent to 25 per cent to the GDP by 2025.