Demonetisation was a landmark decision that changed the course of whole economy. The smooth functioning of various sectors went for a toss after this judgement. India’s GDP growth tumbled from 7.9 per cent to 5.7 per cent.
The sectors that faced the brunt of demonetisation were mostly the unorganised sector, small – medium enterprises and the manufacturing units. On the other hand the financial services, hotels, transport and communication sector showed an impressive growth after demonetisation.
Pankaj Bansal, CEO , PeopleStrong said, “Growth will definitely bounce in, if not immediately but in the long term with demonetisation. There will be more transparency with the use of electronic payments. So, if the demand is more for such services the supply will also have an effect”.
According to Devashish Sharma, Founding Member, Chief – Strategic Accounts & Alliances, from ‘People Strong’ after the implementation of GST the dynamics of tax structure have changed therefore the current work force is trained to adapt the new structure. The new workforce is equipped with training and classes in this segment to calculate tax and develop an understanding towards it. Although after GST, the taxation framework have become simpler.
This article was published on timesjobs.com
