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Tax terrorism eroded confidence of Indian businesses: Manmohan Singh

ANI  |  Ahemdabad (Gujarat) [India] 

Former prime minister on Tuesday cornered the Centre over its economic policies and asserted that the fear of has eroded the confidence of Indian businesses.

Critical of the Good and Services Tax, Dr. Singh said the reform broken the back of small businesses.

"The fear of has eroded the confidence of Indian business to invest. This twin (and GST) blow is complete disaster for our economy, it has broken the back of our small businesses," Dr. Singh said.

Cornering the over increase in from China, Dr. Singh said because of the weak economic policies of Prime Minister Modi and his government, had to run for Chinese at the cost of Indian jobs.

"We had to run for Chinese at the cost of Indian jobs. In the first half of 2016-17, India's from stood at Rs 1. 96 lakh crore. In 2017-18, it increased to Rs.2.41 lakh," he said.

"Unprecedented growth of by over Rs 45,000 crore, a 23 percent increase in a year, can be attributed largely to demonetisation, When undertaking endeavour of one nation one tax, if the Prime Minister had taken inspiration from resolve of the great Sardar Patel, the outcome would've been different," he added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 07 2017. 13:13 IST
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