Finance Minister Arun Jaitley today said demonetisation shook the financial system for a short while, but will integrate the shadow economy with the formal in the long run and ensure better tax compliance. <br/><br/>He said most contentious issues regarding the Goods and Services Tax (GST) have been sorted out between the Centre and states and the new indirect tax regime is at the final stages of implementation. He was speaking after inaugurating the two-day 23rd edition of CII Partnership Summit currently underway in Visakhapatnam. <br/><br/>The finance minister said with the implementation of GST, new indirect tax regime will make India one single market, eliminate multiple assessments, check evasion and bring more revenues into the system. He further said the government plans to implement GST, from July 1st.<br/><br/>Mr. Jaitley also said Andhra Pradesh has achieved double digit growth rate in the country. He said the State is progressing with the sole aim of achieving speedy industrialisation and strong economy. He said Andhra Pradesh has become the top state in the country in ease of doing business. Mr. Jaitley said the government is inviting FDIs sector wise. <br/><br/>He said the Centre had established several industries in record time in the State after bifurcation and is concentrating on the overall development of the state, emphasizing that there is wider scope for employment in manufacturing and service sectors. He gave a call to the industrialists to come forward with investments in AP as there is huge scope for it. <br/><br/>Union Ministers M Venkaiah Naidu, Nirmala Sitaraman, Ashok Gajapati Raju, Y.S.Chaudhary and Andhra Pradesh Chief Minister N. Chandrababu Naidu participated in the inaugural of the summit being attended by more than 350 delegates from 42 countries besides Commerce Minister from 12 countries.<br/><br/>Andhra Pradesh is aiming to attract over Rs 8 lakh crore investments from the summit with intent of Rs 1.10 lakh crore investments expected for new capital Amaravati.<br/><br/>Andhra Pradesh is host to the second consecutive summit, a two-day event being organised in partnership with the Confederation of Indian Industry (CII) and the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry.<br/><br/>Andhra Pradesh, India's Sunrise State, and the gateway to the east, recommits itself to the growth of the nation and is looking forward to forge partnerships with global investors at this year's event even more successful in terms of signing the investment intents with various companies and in terms of the presence of global CEOs, in the light of the number one position it was able to achieve for the state in the ease of doing business rankings in 2016. <br/><br/>The State is also is at the top position in implementation of Energy Efficiency and Conservation Programmes and 'infrastructure' category. With GSDP growth rate of 12.26 per cent in Q1 2016 AP has a Single Desk Portal to provide all clearances / approvals within 21 working days to set up an industry in the State rated as a best practice by World Bank.<br/><br/>Of the MoUs it had in 2016 Partnership Summit 42 per cent have come into effect and became top state in the country having established new industries. With 328 agreements it has attracted Rs.4.64 lakh crore investments helping the state to progress. <br/><br/>The civil works of 89 projects have already been initiated which amounts to Rs 82,595 crore providing employment to 59,679 people. Already 39 units have started production providing employment to 27,315.

Finance Minister Arun Jaitley today put up a spirited defence of demonetisation, saying the drive "shook" the financial system for a short while, but will integrate the shadow economy with the formal in the long run and ensure better tax compliance.<br/><br/> He said most contentious issues regarding the Goods and Services Tax (GST) have been sorted out between the Centre and states and the new indirect tax regime is at the final stages of implementation. He was speaking after inaugurating the two-day 23rd edition of CII Partnership Summit currently underway in Visakhapatnam. <br/><br/>The finance minister said with the implementation of GST, new indirect tax regime will make India one single market, eliminate multiple assessments, check evasion and bring more revenues into the system. He further said the government plans to implement GST, from July 1st.<br/><br/>Mr. Jaitley also said Andhra Pradesh has achieved double digit growth rate in the country. He said the State is progressing with the sole aim of achieving speedy industrialisation and strong economy. He said Andhra Pradesh has become the top state in the country in ease of doing business. Mr. Jaitley said the government is inviting FDIs sector wise. <br/><br/>He said the Centre had established several industries in record time in the State after bifurcation and is concentrating on the overall development of the state, emphasizing that there is wider scope for employment in manufacturing and service sectors. He gave a call to the industrialists to come forward with investments in AP as there is huge scope for it. <br/><br/>Union Ministers M Venkaiah Naidu, Nirmala Sitaraman, Ashok Gajapati Raju, Y.S.Chaudhary and Andhra Pradesh Chief Minister N. Chandrababu Naidu participated in the inaugural of the summit being attended by more than 350 delegates from 42 countries besides Commerce Minister from 12 countries.<br/><br/> Andhra Pradesh is aiming to attract over Rs 8 lakh crore investments from the summit with intent of Rs 1.10 lakh crore investments expected for new capital Amaravati.<br/><br/>Andhra Pradesh is host to the second consecutive summit, a two-day event being organised in partnership with the Confederation of Indian Industry (CII) and the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry.<br/> <br/>Andhra Pradesh, India's Sunrise State, and the gateway to the east, recommits itself to the growth of the nation and is looking forward to forge partnerships with global investors at this year's event even more successful in terms of signing the investment intents with various companies and in terms of the presence of global CEOs, in the light of the number one position it was able to achieve for the state in the ease of doing business rankings in 2016. <br/><br/> The State is also is at the top position in implementation of Energy Efficiency and Conservation Programmes and 'infrastructure' category. With GSDP growth rate of 12.26 per cent in Q1 2016 AP has a Single Desk Portal to provide all clearances / approvals within 21 working days to set up an industry in the State rated as a best practice by World Bank.<br/> <br/>Of the MoUs it had in 2016 Partnership Summit 42 per cent have come into effect and became top state in the country having established new industries. With 328 agreements it has attracted Rs.4.64 lakh crore investments helping the state to progress. <br/><br/> The civil works of 89 projects have already been initiated which amounts to Rs 82,595 crore providing employment to 59,679 people. Already 39 units have started production providing employment to 27,315.

Finance Minister Arun Jaitley today put up a spirited defence of demonetisation, saying the drive "shook" the financial system for a short while, but will integrate the shadow economy with the formal in the long run and ensure better tax compliance.<br/><br/> He said most contentious issues regarding the Goods and Services Tax (GST) have been sorted out between the Centre and states and the new indirect tax regime is at the final stages of implementation. He was speaking after inaugurating the two-day 23rd edition of CII Partnership Summit currently underway in Visakhapatnam. <br/><br/>The finance minister said with the implementation of GST, new indirect tax regime will make India one single market, eliminate multiple assessments, check evasion and bring more revenues into the system. He further said the government plans to implement GST, from July 1st.<br/><br/>Mr. Jaitley also said Andhra Pradesh has achieved double digit growth rate in the country. He said the State is progressing with the sole aim of achieving speedy industrialisation and strong economy. He said Andhra Pradesh has become the top state in the country in ease of doing business. Mr. Jaitley said the government is inviting FDIs sector wise. <br/><br/>He said the Centre had established several industries in record time in the State after bifurcation and is concentrating on the overall development of the state, emphasizing that there is wider scope for employment in manufacturing and service sectors. He gave a call to the industrialists to come forward with investments in AP as there is huge scope for it. <br/><br/>Union Ministers M Venkaiah Naidu, Nirmala Sitaraman, Ashok Gajapati Raju, Y.S.Chaudhary and Andhra Pradesh Chief Minister N. Chandrababu Naidu participated in the inaugural of the summit being attended by more than 350 delegates from 42 countries besides Commerce Minister from 12 countries.<br/><br/> Andhra Pradesh is aiming to attract over Rs 8 lakh crore investments from the summit with intent of Rs 1.10 lakh crore investments expected for new capital Amaravati.<br/><br/>Andhra Pradesh is host to the second consecutive summit, a two-day event being organised in partnership with the Confederation of Indian Industry (CII) and the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry.<br/> <br/>Andhra Pradesh, India's Sunrise State, and the gateway to the east, recommits itself to the growth of the nation and is looking forward to forge partnerships with global investors at this year's event even more successful in terms of signing the investment intents with various companies and in terms of the presence of global CEOs, in the light of the number one position it was able to achieve for the state in the ease of doing business rankings in 2016. <br/><br/> The State is also is at the top position in implementation of Energy Efficiency and Conservation Programmes and 'infrastructure' category. With GSDP growth rate of 12.26 per cent in Q1 2016 AP has a Single Desk Portal to provide all clearances / approvals within 21 working days to set up an industry in the State rated as a best practice by World Bank.<br/> <br/>Of the MoUs it had in 2016 Partnership Summit 42 per cent have come into effect and became top state in the country having established new industries. With 328 agreements it has attracted Rs.4.64 lakh crore investments helping the state to progress. <br/><br/> The civil works of 89 projects have already been initiated which amounts to Rs 82,595 crore providing employment to 59,679 people. Already 39 units have started production providing employment to 27,315.