Will India Able to Achieve Double Digit Growth Rate through Demonetization and GST?
Indian economy is growing at good pace. After 1991, liberalization, privatization and globalization have made a positive impact on the FDI inflows and growth of Indian economy. Indian government has taken two major financial decisions in the last year. These decisions are demonetization and GST. Under demonetization, Indian government has introduced new currency note of 2000 Rs. and scrapped 500 and 1000 Rs. note from the market. GST has been introduced recently with four common tax slabs to be followed in all the states on India. The main aim of this research paper is to find the answer of the question whether demonetization and GST will make India able to achieve double digit growth rate. Indian economy has consistently grown at the rate of 5.8% in last few decades, India is looking for double digit growth rate with the help of demonetization and GST. The secondary data have been used by researcher to analyse the influence of GST and demonetization on Indian economy.
Keywords - Demonetization, GST, Economy, GDP, India