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Vibrant Gujarat Summit: Need Bold Reforms to Transform Economy, Says Jaitley

First published: January 11, 2017, 11:18 AM IST | Updated: 11 mins ago

Union Finance Minister Arun Jaitley addressing the 8th edition of Vibrant Gujarat Summit 2017 on Wednesday.

Ahmedabad: Union Finance Minister Arun Jaitley stressed for bold reforms to transform economy at the 8th edition of Vibrant Gujarat Summit 2017 on Wednesday.

“Excessive paper currency has its own vices and leads to its own temptations. After transient impact, demonetisation will lead to cleaner and larger GDP,” he said on demonetisation.

“Most of the issues have been resolved, few critical issues are left which I hope that will be resolved in the next few weeks,” Jaitley said while adding, “This summit has become the foremost economic conclave of India. With each summit the vibrancy of this conference has increased.”

“Gujarat is ready for GST and has made all the required preparations. Once GST is implemented, a combination of a more digitized economy with a more efficient tax system will make India better,” he said.

On Tuesday, Gujarat’s biennial global investors’ summit — Vibrant Gujarat 2017 — was inaugurated by Prime Minister Narendra Modi.

Modi had started the investors’ summit in 2003 when he was the state’s chief minister to showcase the state as a destination for Indian and global investors.