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26 Feb 2024, Edition - 3149, Monday

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Coimbatore

Stock market very optimistic about GST, says expert

Covai Post Network

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In addition to tremendously boosting the Indian economy, “a sea change of reforms in Indian share market will happen after the implementation of the new GST tax systems,” said K. Sukumaran, Dean of the School for Investors Education and Financial Literacy, National Institute of Securities Market (NISM), Mumbai.

He was delivering a special lecture at Sri Krishna Arts and Science College in Coimbatore.

The Goods and Services Tax will be implemented from April 1, 2017. Speaking on its impact on the stock market, Sukumaran said that its positive effects will attract foreign investors. “The production of the industrial goods may be increased after the implementation of tax reforms and directly uptrend the Indian stock markets. The single tax system and reduction in logistics taxes will control the expenditure of the industries and businesses. Any changes in these systems will directly impact the economy. The tax reform will boost the growth of industries and business,” he said.

He explained to his audience, how the various sectors like industry, banking, insurance and public sector contributed towards the growth of the Indian economy. He also threw light on the procedures and norms to enter the stock markets and stressed the role and the importance of securities market in India.

He stressed on the need of mutual funds, and suggested ideas to make an effective investment.

Sri Krishna Arts and Science College’s CEO, Dr. K. Sundararaman; Principal, Dr. P. Baba Gnannakumar; and students of the Commerce department attended the lecture.

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