S. Gurumurthy, Editor of Thuglak magazine, said on Saturday that the Goods and Services Tax (GST) is a very good measure but not India-centric in its current format.
He suggested granting exemption from GST for three years for certain categories instead of fixing a monetary cap, to avoid in corruption and inspector raj.
Mr. Gurumurthy was speaking at a session on “GST reality check” organised by the Madras Management Association in partnership with Konrad Adenauer Stiftung.
Mr. Gurumurthy, referring to a report from Credit Suisse, said the unorganised sector contributed 50% of India’s GDP and employed 128 million people.
It was growing at 18% year on year and generated 90% of the jobs mainly in small- and medium-scale industries.
