Mount pressure on policymakers to implement GST: Mukherjee

SURAT: Finance minister Pranab Mukherjee today urged the trade and commerce fraternity to mount pressure on policy makers for smooth implementation of Goods and Service Tax ( GST) in a committed time frame.

Speaking at annual installation ceremony of the South Gujarat Chambers of Commerce here, Mukherjee said, "Change in the present system to a new one is bound to find resistance."

"I urge the trade and commerce fraternity to mount pressure on policy makers for smooth convergence which would lead to implementation of GST in a committed time frame," the Union Minister said.

Mukherjee said the government was committed to implement Direct Tax Code ( DTC) from April 1, 2011 by ensuring total support from all the stake holders.

He said the government was committed to materialize economic progress of the nation based on inclusive growth strategy which aims to ensure equal distribution of income, opportunities and wealth among the common citizens.

Mukherjee said a good monsoon will recover the growth momentum to achieve the target set during the budget, as the economy remained under pressure due to vagaries of weather and recessionary pressures emanated from the world economy, last year.

The minister also said India has achieved comfortable level in Foreign Direct Investment by crossing a $20.9 billion mark.