Junaid Ahmed, World Bank India chief has said that implementation of GST could bring India in the league of top nations and help the country register a growth rate of 8% in the coming years. He termed GST as a tectonic shift in India’s taxation system and stated that successful implementation of GST has increased chances of India’s 8% growth in the coming time. His comment comes at a time when the government is under criticism after the growth rate fell to 5.7% in the first quarter of the ongoing financial year. India had recorded 7.1% growth in the 2016-17.

His comment comes at a time when the government is under criticism after the growth rate fell to 5.7% in the first quarter of the ongoing financial year. India had recorded 7.1% growth in the 2016-17.

At an event yesterday, Junaid Ahmed said that now is the best time for India to venture into the 8% growth club. This is because of a successful integration of GST, which brings the whole system of the country as one market.

While addressing the members of PhD chamber of commerce and Industry, he said that if GST is implemented efficiently, this will be a huge boon for the country. He was, however, a little sceptical about India’s investment in logistics and added that to run GST efficiently, the country needs a proper transportation system and that lacks upto an extent at this point of time.

Terming the local partnerships important, Ahmed stated that if India gets successful in getting the local markets integrated on a platform, this will be a huge step for transforming millions of lives in the coming years.