Commerce and Industry Minister Piyush Goyal has said that India will become a nation of thirty trillion dollar economy by 2047. Mr Goyal said this during an interactive session at the annual conclave of a private media organization in New Delhi yesterday. Stressing on inflation being in control under Prime Minister Narendra Modi’s leadership, the Minister said that cost controlling was the Government’s priority when it came to power in 2014.

Mr Goyal said that the Reserve Bank of India was mandated to continuously monitor India’s fiscal and monetary policy. The Minister also highlighted government’s effort to support Micro, Small and Medium Enterprises (MSMEs). He underlined the Next Generation GST reforms have reduced hassle and simplified the taxation system. Mr Goyal further stressed that the introduction of GST in 2017 was the biggest transformation post-Independence that helped to make the system free of corruption, middlemen and paper work.