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GST was stuck only because the earlier govt couldn't take political risk: PM Modi

PM Modi was speaking at the annual meeting of the Confederation of Indian Industry (CII).

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Prime Minister Narendra Modi on Wednesday said that the previous government was unwilling to take a political risk and that is why the Goods and Service Tax (GST) was stuck. The PM added that today, there is a government in the country which is ready to take the biggest risk in the interest of the nation. 

"GST was stuck for so many years only because those who were in the government earlier could not muster up the courage to take political risks. We not only implemented GST but today we are witnessing record GST collection. We are not pursuing reforms under compulsion, but with confidence and firmness," he said.

PM Modi was speaking at the annual meeting of the Confederation of Indian Industry on the theme 'India@75: Government and Business Working Together for Aatmanirbhar Bharat' via video conferencing.

Describing the CII annual meeting as a big opportunity, he said that for the new resolutions of the Indian industry, for the new goals, a huge responsibility for the success of the self-reliant India campaign rests on Indian industries. "Today's new India is ready to move with the new world. India which was once apprehensive of foreign investment, today it is welcoming all kinds of investment," he added.

Modi said the country took bold decisions and reforms continued even during the Covid-19 pandemic.

"During the pandemic, the industry has stepped forward to help in every way from masks to oxygen. The industry has played an important role in India's growth," he said. He also urged businesses to invest more and create more jobs via Atmanirbhar Bharat Abhiyan. 

The PM said that even the indigenous brands, which were built after years of hard work, were promoted under foreign names only. "Today, when the youth of India enter the field, they do not have that hesitation. They want to work hard, they want to take risks, they want to bring results. Today we are seeing confidence in our youth. This type of confidence is in the startups of India today," he said.

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