GST Bill will help unify India, says RBI Governor

By Arnab Mitra

Kolkata: RBI Governor Dr Raghuram Rajan said the GST Bill would help unify India during his talk at the prestigious Dipak Banerjee Memorial Lecture at the Presidency University on Thursday.

"The GST will help to bring more people on tax net and will reduce the barriers between states as they will have a uniform policy in terms of inter-state trading," said Rajan.

Rajan's lecture was on the topic of 'Debt Policy' in our country and around the world.

He described the disappointing fact that how money lenders in the country were routinely exploiting the poor class. The comment is very significant as, in West Bengal and in India at large, the population is vastly affected by scams such as the Saradha scam and Rose Valley scam among others.

However he warned big companies from borrowing heavily from banks as over-leveraging creates trouble.

"Moderation is required and some debt is good; but not too much. Avoid borrowing a huge amount to avoid problems," Rajan added.

On being asked whether he was linking the issue of debt policy with the political scenario of the state, or its economic condition, he sidestepped the issue saying he wasn't much aware of the condition in West Bengal.