GST rollout is biggest reform: Defence Minister Nirmala Sitharaman

Chennai: Terming the Goods and Services Tax (GST) rollout as the biggest reform, Union Defence Minister Nirmala Sitharaman has said the GST was part of a "systemic reform" pursued by the Prime Minister Narendra Modi that facilitated India to become "a bright spot for investors."

"India is the brightest spark and shining globally ..the growth with fiscal prudence is the reason behind with which the economy is managed. Prime Minister Narendra Modi has made it a point that systemic reforms were done in such a way that India's growth potential was realised fully and these reforms are being taken up with courage by the Modi government," she said while speaking at the inaugural of the second edition of the Tamil Nadu Global Investors Meet (GIM) here on Wednesday.

 "As a result, we have improved 63 ranks in global ease of doing business rankings," the Central Minister added. She said, the biggest reform in the last 60 years was to make India as one market and that was achieved by the Prime Minister. Only two days ago, the IMF came up with the forecast that India's growth will be the highest globally, being sustained for the last five years in that fashion.

 Whether food inflation or the overall inflation, they have been kept well under control. So, for somebody who wants to set up an industry, somebody who wants to do business, what more ideal situation can you have, she asked. The Centre, Ms. Nirmala said, has come up with very good sustainable policies and established a high benchmark on environmental concerns, besides in terms of reaching out to every household and every production unit.

 She released the 'Tamil Nadu Aerospace and Defence Industrial Policy 2019' on the occasion.

 The Minister called upon Tamil Nadu students to learn Korean and Mandarin languages as this would help them when they deal with businesses from these countries.