You are here: Home » Budget » Economic Survey » Top Stories
Business Standard

GST implementation, expansion of DBT can be game changers: Eco Survey

The Survey also stressed on the need for increasing overall revenue to GDP ratio

Press Trust of India  |  New Delhi 

Arun Jaitley
Economic Survey 2014-15.

Implementation of Goods and Services Tax (GST) and expansion of Direct Benefit Transfer (DBT) scheme can be game changers as far as revenue collection is concerned, says the Economic Survey for 2014-15.

"Several reforms have been undertaken and more are on anvil. The introduction of GST and expanding direct benefit transfers can be game changers," the Survey said..

Read our full coverage on Union Budget

"...Going forward, enhanced revenue generation is priority. The implementation of a well designed GST and other tax reforms would play a crucial role in this regard," it added.

The Survey also stressed on the need for increasing overall revenue to GDP ratio.

Touted as the single-biggest indirect taxation reform since independence and a 'win-win' for Centre and states, the 122nd Constitution Amendment Bill for Goods and Services Tax (GST) was tabled by Finance Minister Arun Jaitley in the last Winter Session after extensive discussions to get states on board by addressing their concerns.

Meanwhile, the government had recently said it will start cash transfer under all central schemes directly to beneficiaries by April.

CRISIL had also recently said that DBT is likely to prove to be a game changer in food subsidy.

"We estimate that DBT could help the government save as much as 20 per cent (or Rs 25,000 crore) in food subsidy expenditure by eliminating costs associated with procuring, distributing and storing foodgrains," it had said.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, February 27 2015. 15:02 IST