REMEMBERING THE GOLDEN LIFE OF ARUN JAITLEY - THE ARCHITECT OF GST REFORM

The 24^th day of August 2019 will be remembered as a dark day in the history of India as the true reformer of Indian economy, former Finance Minister Arun Jaitley passed away. But the legacy of this true visionary will continue to be witnessed in every step the country takes towards being the strongest financial and economical institute in the world.     

           

A man of strong will and unhindered passion, Arun Jaitley has made a huge impact on the Indian financial structure and us at Gupta Anoop & Co, a team of GST advisor and analysts proudly celebrate the remarkable achievements that have revolutionized Indian economy forever.    

           

A glorious timeline that flourished with dedicated service to the nation!      

  

From a young age, Arun Jaitley expressed leadership values and qualities of a true intellectual. From being a student leader at university, president of student’s union, civil rights activist, practising lawyer and senior advocate to being the Finance Minister of India, the man’s will and determined approach carved a way to push the realms of possible and introduce strategies that served to be the cornerstone of progress in the development of this great nation.  

               

Appointed as the Minister of Finance on May 26, 2014, Arun Jaitley’s name will always be linked to the two most significant reforms in India’s financial structure - The introduction of Goods and Services Act (GST) and the Demonization of currency.  

     

A decision is as brave as the man himself! 

    

The appraisal of Arun Jaitley’s contribution to India’s growth and progress can never be expressed in simple words or writing. Pens would dry but the towering achievements of the man would still remain to be listed.

§  A unified Tax code across the nation 

    

Introduced in the pure interest of the nation’s growth, the Goods and Services Tax (GST) played a vital role in merging the financial interests of the state and the centre. With the vision of One India to create One Tax and One Market, GST lowers prices, prevents tax evasion and boosts GDP to allow greater spending towards the welfare of people.  

    

The old fragmented economy of India distributed across states has been unified to combine and share the benefits for achieving enhanced resources to offer the nation a promise of a better future!

§  The defeat of corruption and boost to the digital payment system 

     

Demonetization will remain forever to be the boldest of moves any country has taken in its financial structure.  Announced on the night of November 8, 2016 – demonetization led to the omission of 86% of the country’s total value currency. Arun Jaitley was responsible to oversee the exercise and the swift implementation surprised the corrupt and rendered all black money useless. 

    

The proactive implementation boosted digital transactions to cost the 2500 crore mark in the financial calendar. More than 3 lakh PAN cards were issued on a daily basis post demonetization and an 18% rise in online railway bookings was witnessed.    

            

The passing away of Arun Jaitley has sure left a void in Indian politics and service sector which will be impossible to fulfil. However, the bold and determined approach of the man towards revolutionizing Indian economy will guide generations of leaders and inspire them with the idea of a unified code in all administrative aspects to better serve the benefits of citizens.     

    

A strategist and orator of outstanding calibre, Arun Jaitley will deeply be missed and fondly remembered forever as a true visionary who steered the country on the tracks of modernization and unhindered development for surpassing nations across the globe. We at Gupta Anoop & Co, a team of GST consultant specialists salute the revival of Indian financial and economic structure empowered by the well-drafted strategies of the great Arun Jaitley!