Obama praises Modi for ‘bold policy’ on tax reform

TIL Desk/World/Hangzhou-Prime Minister Narendra Modi today exchanged views with Barack Obama on the sidelines of the G20 summit here with the US president praising the “bold policy” move on GST reform in a “difficult” global economic scenario. Modi first met Obama briefly when they were onstage to pose for a family photograph at the G20 Summit venue in this eastern Chinese city. The two leaders had another opportunity to exchange views during an informal evening programme.

Obama in his intervention during the G20 summit praised Modi for the recent tax reform as an example of “bold policy” in an otherwise “difficult global economic scenario”. On August 8, Parliament cleared the landmark Constitution (122nd Amendment) Bill, 2014, on the Goods and Services Tax. The government has set April 1, 2017 as the target for rolling out the GST, considered the biggest tax reform in a long time.

Earlier today, Modi met Chinese President Xi Jinping and Australian Prime Minister Malcolm Turnbull on the sidelines of the summit. Modi, who arrived here yesterday from Vietnam for the summit, also met Deputy Crown Prince of Saudi Arabia Mohammad bin Salman and discussed ways to enhance bilateral ties. The prime minister called for strengthened partnership with Saudi Arabia in sectors such as maritime, infrastructure, low-cost housing and discussed further cooperation in energy sector, they said.