The Minister of State for Finance Arjun Ram Meghwal reiterated the government’s commitment to meeting the April 1, 2017, deadline for the rollout of GST.
“Now that it (the GST Bill) has been cleared by the Lok Sabha as well, the stage is set for the President’s assent and the 15 states to ratify it,” Mr. Meghwal said on the sidelines of the commemoration of the Second Indian Cost Accounts Service Day.
“We are still committed to the April 1 target.”
Speaking about the inflation target of four per cent (plus or minus two per cent) till 2021, Mr. Meghwal said that to control inflation, the government has set a strict target.
During his speech, the junior minister also said that he would increase the presence of cost accountants in all departments of the government.
Ashok Lavasa, Finance Secretary, who also spoke at the event said: “India has developing challenges that are so huge and so demanding, and of course there are not enough resources to address them all immediately, so the optimum allocation of resources is the key. In this regard, the role of cost accountants is the key.”
Mr. Lavasa also stressed the importance of accounting to bring about greater transparency in the system. “This government’s focus is on how to introduce greater accountability to government functioning,” Mr. Lavasa said.
“This means we have to be open to greater scrutiny. “The emphasis of the Ministry of Finance is on internal audits.”