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AHMEDABAD, BENGALURU, BHOPAL, BHUBANESWAR, CHANDIGARH, CHENNAI, HYDERABAD, KOCHI, KOLKATA, LUCKNOW, MUMBAI, NEW DELHI AND PUNE 10 January 2019 1 COMMERCIAL FEATURE ‘99% Items will soon fall under 18% GST slab’ SAYS PM MODI AT THE REPUBLIC SUMMIT IN THE LEAD UP TO HIS ANNOUNCEMENT, THAT IS LIKELY TO HAVE THE EFFECT OF LOWERING THE OVERALL TAX INCIDENCE ON A BASKET OF GOODS AND SERVICES, THE PRIME MINISTER HAD EXTOLLED THE HISTORIC TAX REFORM, HIGHLIGHTING HOW IT HAD LED TO A MARKED INCREASE IN THE TAX-PAYER BASE: rime Minister Naren- go before the all-important 2019 dra Modi delivered Lok Sabha elections, apart from de- the keynote address creasing the tax burden on the end at the inaugural users, also takes away the major ‘THE ENTIRE COUNTRY TOOK THE P Republic Summit, pain point that the opposition had INITIATIVE TO BRING CHANGE WITH speaking on the theme of ‘Surging insisted on fl agging about GST -- India’. While doing so, he made a that with four tax slabs, it was too THE TAX REFORMS. THEY MADE THEIR blockbuster announcement about a complex. CONTRIBUTIONS TO THE DEVELOPMENT. change to the existing GST catego- For the entirety of the time since risation that may have far-reaching GST was rolled-out, effectively uni- IT IS THE HARD WORK OF THE PEOPLE effects for both the end users as fying the country into one market, well as others in the value chain, by the government has maintained THAT INDIA WAS ABLE TO BRING stating that the government is work- that it was a work in progress and SUCH A HUGE REFORM. EVEN IN ing towards bringing 99% of goods that they are constantly speaking to and services into the 18%-or-less stakeholders, especially the various MANY DEVELOPED COUNTRIES, IT IS GST bracket. Days later, following states, in order to streamline the a meeting of the GST Council, the goods and services tax. In response QUITE DIFFICULT TO BRING SMALL Prime Minister’s words were opera- to the Opposition’s attacks, the TAX REFORMS. AS I SAID EARLIER, tionalised. Prime Minister had coined another The change in the GST struc- acronym for the GST, calling it the BEFORE THE INTRODUCTION OF GST, ture, especially with just months to ‘Good and Simple Tax’. WHILE REGISTERED ENTERPRISES INDIA IN 2018 WERE NUMBERED 66 LAKHS, NOW THE NUMBER HAS INCREASED TO 1 CRORE 20 • India is now in the $5 trillion economy club LAKHS. WHILE THE GST WAS STILL NEW, • In terms of ease of doing business, India now SLOWLY AND STEADILY DISCUSSIONS ranks 77, from 142 earlier TOOK PLACE WITH ECONOMISTS, TAX • Millions of people are going digital, instead of REFORMERS, BUSINESS HOLDERS, AND using paper money NOW THE GST SYSTEM HAS SETTLED • The aviation sector is booming, and 1,000 new DOWN TO A LARGE EXTENT IN THE aircraft have been ordered COUNTRY,’ PM MODI SAID DURING HIS • ISRO launched over 100 satellites in one go, Watch the full session on www.republicworld.com KEYNOTE SPEECH. setting a record |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||| ‘If heard day-to-day Ayodhya issue can be resolved in 10 days’ BJP PRESIDENT AMIT SHAH ON AYODHYA ISSUE ‘Institutions must be autonomous NOT ONLY BJP - ALL OF INDIA but cannot be isolationist’ WANTS A GRAND TEMPLE TO BE FM ARUN JAITLEY AT REPUBLIC SUMMIT 2018 JP President Amit Shah BUILT IN broached a number of key AYODHYA. election results as a basis to gauge inance Minister Arun Jait- topics in conversation with the 2019 general elections,’ he said. ley delivered a keynote ad- Republic TV‘s Editor-In-Chief Shah went on to elaborate that the is- dress at the inaugural Re- B Arnab Goswami at the inau- sues that buttress election campaigns public Summit, in which he gural Republic Summit, chief among them visit to Ayodhya and the ‘Mandir ulti- at the state level are completely differ- F spoke on the topic ‘Silver being the controversial Ram Mandir issue matum’ by the Sainiks, Shah said: ‘In ent from those at the central level. bullet for the economy’, following which he on which he opined that the entire nation the matter of Ayodhya, they are not ‘I will give you an example of Mad- was later in a conversation with the chair- wants the temple to be built, and that if the challenging us. They are demanding hya Pradesh. In Madhya Pradesh, the man of Goenka Group Sanjiv Goenka and case which is in the Supreme Court were to a temple and we also believe that a difference is of 7 seats and we lost 7 Republic’s Editor-In-Chief Arnab Goswa- be heard on a day-to-day basis, the matter temple should be constructed. Where seats by just 3500 votes. Now, 3500 mi and spoke about a number of issues. could be resolved within 10 days. is the challenge? There is no dispute.’ votes are not the measure to decide When Sanjiv Goenka asked the Fi- Shah further spoke about the chances of Amit Shah also analysed the elec- the victory or loss of such a huge nance Minister on the autonomy of institu- an alliance between the BJP and Shiv Sena tion results in Rajasthan, Madhya state. I am not denying our loss. Our tions, he replied: ‘At the end of the day, by- in 2019. ‘The reality is that Shiv Sena is a Pradesh and Chhattisgarh where BJP government has lost and their gov- and-large, government and politicians are part of our government even today. Their governments were toppled, dismissing ernment has taken over. I have done more accountable because everyday they candidates contest in every election. They the notion that they would impact the analyses of many results. For exam- are questioned by the media, their parties, did it in Gujarat and Uttar Pradesh and not 2019 Lok Sabha polls. ‘To link these ple, in Uttar Pradesh, you can say that the electorate. Institutions need to be au- just in this election but before 2014 also. results to the 2019 elections wouldn’t Congress lost. In Uttarakhand, Con- tonomous but not isolated. if you are deal- Running a campaign is a different thing but be completely right. If we accept this gress lost. Even in Rajasthan, there is ing with the regulators in the country – take their candidates stood for elections. Till both theory, in 2004 we had won three state only a difference of approximately one for instance the telecom regulator or any debate between me and the central bank ist. If they are isolationist there is a fair the parties come to a conclusion, it is unwise elections, yet we lost the following lakh votes. However, a loss is a loss other regulator - he has to be independent was because it is my responsibility to tell chance they will go wrong.’ to comment on the matter publicly. I believe general elections. In 2009, we again and we accept people’s mandate.’ to be appointed the regulator. But he has them that we have a liquidity problem. that in the 2019 election, Shiv Sena will sup- won three states, yet we lost the fol- to consult with the stakeholders, only then Now institutions like RBI must be Watch the full session on port us. The discussions are on.’ lowing general elections too. So I don’t Watch the full session on you get the feel of the market. The recent autonomous but cannot be isolation- www.republicworld.com When asked about Uddhav Thackeray’s think we should use the current state www.republicworld.com PRESENTED BY POWERED BY SESSION PARTNERS 2 10 January 2019 AHMEDABAD, BENGALURU, BHOPAL, BHUBANESWAR, CHANDIGARH, CHENNAI, HYDERABAD, KOCHI, KOLKATA, LUCKNOW, MUMBAI, NEW DELHI AND PUNE COMMERCIAL FEATURE THREE POPULAR ‘Spirituality is FACES IN THE INDIAN The future of the POLITICAL SCENARIO SPEAK ABOUT WHAT empowerment, not a THE YOUTH OF THE COUNTRY NEEDS political surge in India disability’: Sadhguru n the topic of ‘Future piritual of the political surge’ leader in India, BJP leader Sad- Anurag Thakur, Patidar hguru O community leader S and re- Hardik Patel and Srinagar Munici- nowned pal Corporation Mayor Junaid Matto American Yoga teacher partook in a panel discussion at the Dr David Frawley were inaugural Republic Summit. part of a panel to dis- Speaking on a number of topics, cuss inherited knowl- ranging from Hardik Patel’s fight for edge at the inaugural reservation for the Patidar commu- Republic Summit, with nity, to the youths of Kashmir, to the the primary question fight for 2019, all the three leaders being: Everyone is put forth their points of view in front of aware of the depth of a packed crowd. knowledge that India The discussion began with Hardik has, but despite this Patel and Anurag Thakur having what is stopping India their say on the Patidar community’s from being a soft su- movement for reservation. Anurag perpower? Thakur began by stating that while people, especially youths, have a right to speak their minds in a democ- sues be taken care of, he will stop his talks with those who are not from the BJP will be defeated in 2019, owing dia is be- spiritual person you must be racy, it is important that they stay on protests against the government. influential families in Kashmir. to their failure to fulfill their promises I WANT TO BUST THE MYTH THAT ing turned incompetent... this is a land the right path, unlike Hardik Patel (as Following this, the issue of Kash- Moving forward, the topic of 2019 of 2014. Anurag Thakur disagreed against it- where kings and economic per Anurag Thakur), who in his fight miri youth came to the fore.