The government is working hard to ensure it implements the Goods and Services Tax from next year. The GST, which will subsume almost all the indirect taxes, will help the economy and individual industries in various ways including helping accelerate job growth.
“The uniformity and the reduction in the average tax burden offered by the GST will provide a great impetus to employment creation,” says Rituparna Chakraborty, co-founder of staffing firm TeamLease Services Pvt Ltd.
A TeamLease report shows the biggest impact in terms of employment will be in the automobile and logistics sector, where job growth could accelerate by 4-4.5 percentage points.
While most sectors will benefit, three sectors could take a hit in terms of employment creation, the report says. These sectors are consumer durables, pharmaceuticals and telecommunications, it says.
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