Proposed GST slab of 35% is a deterrent for growth
As per a cross-country World Bank study on sugar-sweetened beverages, India has one of the highest tax rates for carbonated soft drinks (CSDs) at a total tax rate of 40 per cent as of 2023.
Goods and Services Tax (GST) collection has gone up by 22 per cent in Haryana, according to the data released by the Union Finance Ministry.
An official spokesperson said the state’s GST collection, which was Rs 8,197 crore in 2022, has increased to Rs 10,035 crore in 2023. “Compared to Haryana’s GST collection with the neighbouring states, Punjab has an increase of 16 per cent, 17 per cent in Himachal Pradesh, 8 per cent in Delhi and 5 per cent in Rajasthan. These figures clearly show that Haryana’s growth rate is certainly more than these states,” he added.
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Expressing his joy over the figures released by the Union government, Chief Minister Manohar Lal Khattar said Haryana has made remarkable progress in GST collection, which shows that the state is progressing.
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“Haryana is one of the leading states on the parameters of economic development. The state government is giving all required facilities to big industries as well as Micro, Small and Medium industries. The state government has also improved power availability and connectivity to promote industries. A strong network of roads and railways is spread across the state,” he added.
The CM said the GST system implemented in the country on the concept of One Nation-One Tax is very effective. Simplification of the GST process has not only benefited the entrepreneurs, but the revenue of the government is also increasing, he added.
Khattar said more than 50 per cent of Haryana falls in the National Capital Region and the state government is developing this area as a logistics hub. “This will increase the immense possibilities of investment in the state. Besides this, emphasis is also being laid on creating quality infrastructure, ensuring ease of doing business and offering an industry-friendly environment in Haryana,” he added.
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