J&K stakeholders through GST made unprecedented contributions by discharging responsibilities: LG

Whenever there is a new law or a big change, it needs time to get stability. There are many apprehensions related to it. But Goods and Services Tax (GST) in less time gave One Nation One Tax and simplified distribution. The most important thing GST did was to stop the leakage present in the indirect tax collection system, said Lieutenant Governor of Jammu and Kashmir, Shri Manoj Sinha. This year in January 2023, the Central government earned one lakh fifty-six thousand crores as GST revenue. The revenue share going to the states has also increased. When states earn money, it goes straight to the common man’s pockets via some medium, LG stated. The money is spent on the state’s progress like the inauguration of ramp based multi-level car parking at Panjtirthi, Jammu. Economy grows when economic activity increases, LG remarked. More money in the government treasury means in all the sectors activities will intensify. From construction to the bazaar in a village, money will reach the pockets of the common man, who will spend the money, expenditure will mean the economy will grow permanently. It will promote inclusive growth. Country’s food security will become strong. Employment opportunities will be created. In the great sacrifice of nation building, all the stakeholders through GST have made unprecedented contributions by discharging responsibilities. Not only economic change but through the system we have come a long way in getting free of corruption.

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