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.
Slamming the opposition leaders who have ridiculed India’s jump from 142 to 100 in World Bank’s ease of doing business ranking, Prime Minister Narendra Modi on Saturday said some people have no work but to question others.
“There are some people who aren’t able to fathom the fact that India has jumped from 142 se 100 in the World Bank’s ease of doing business report. They are raising questions,” said Modi at the ‘India’s Business Reforms’ at the Pravasi Bharatiya Kendra in the national capital.
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“Surprisingly, some of them have been in the World Bank before,” he added.
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The prime minister further said that the previous governments lacked will power and their priorities were not in the right place.
“Had you put in efforts and brought reforms like insolvency/bankruptcy code, wouldn’t you have achieved similar results?”
“But there are some people who don’t want to work and raise questions when other work,” Modi said.
A host of opposition leaders including Congress Vice President Rahul Gandhi, party spokespersons Abhishek Manu Singhvi and Manish Tewari among others have scoffed at the World Bank report arguing that small traders have been destroyed by the Modi government due to demonetisation and Goods and Services Tax (GST).
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