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On a day-long visit to Gujarat, Modi also reached out to traders, saying their past records will not be checked by the income tax department if they join the formal economy by getting themselves registered under the GST regime.
“After all reforms and hardcore decisions, the economy of the country is on track and is going in the right direction,” Modi said addressing a rally here. “Many economists have agreed unanimously that the fundamentals of the economy are strong,” he added. He was apparently answering the critics who have been saying that the economy is in a bad state.
“If we have a look at the figures which have come recently, the production of coal, electricity, natural gas and other items has increased tremendously. Foreign investors are making record investments in the country. The foreign exchange reserves of the country have reached 40,000 crore dollars from 30,000 crore dollars,” Modi said.
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Congress vice president Rahul Gandhi had attacked Modi during his recent campaign tour in Gujarat, after the growth rate slipped to 5.7% in the first quarter of 2017-18. Talking about GST, Modi said the number of traders joining the new indirect tax regime is increasing day by day.
“In the last few months, 27 lakh additional people have registered themselves for this indirect tax… No businessmen wants to indulge in tax evasion. But tax rules, system, tax officials and even politicians are forcing them to do it,” he said.