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GST widening tax net, bringing businesses to light: Principal director of audit at IIM-Vizag foundation day celebrations

VISAKHAPATNAM: The number of firms paying GST has jumped from eight million to 14 million in the last five years. As a result, more businesses are brought into the daylight, thereby expanding the tax net, said principal director of audit (central), Hyderabad, Anindya Dasgupta. He was the chief guest for the 9th foundation day celebrations of Indian Institute of Management-Visakhapatnam conducted at its permanent campus in Gambheeram.
Delivering the foundation day speech, Anindya Dasgupta said that the current evolution of the Indian economy can be compared with what America underwent in the 19th century. The proliferation of technology, emergence of new market opportunities, the fruits of welfare schemes directly reaching the eligible beneficiaries, increasing industrialisation, and India’s strong foothold in the IT sector are heralding a new era for the country. The young workforce will be an additional dividend for India. As per the predictions made by the International Monetary Fund, India will emerge as the world’s fifth-largest economy, with a GDP of roughly $5 trillion at market prices by 2027,” said the principal director of audit.
The principal director of audit touched upon a number of important aspects of Visakhapatnam and IIM-Vizag, including its rich culture, traditions and heritage, IIM Visakhapatnam as an important centre of learning, the promise the permanent campus of the Institute holds, the impactful learning environment it offers, and the many firsts of the institute that are a matter of pride for every stakeholder.
Dasgupta also spoke about the strengths of India in the world and its rightful place, the power of digitalised India, the challenges before the younger generation, the many opportunities that New India offers, etc.
IIM Vizag Director Prof M Chandrasekhar explained the progress of IIM-Vizag that it has made in the last eight years. He explained various first-mover initiatives of the institute on the academics, research, and entrepreneurship fronts. He touched upon the unique characteristics of the permanent campus being developed in Gambheeram. “Our job here is not only to improve the knowledge and skill sets of students and make them professionally competent. The institute is also determined to produce socially responsible citizens, sensitive to sustainability. The institute is working on enhancing the intellectual, emotional, and social quotients of the students,” said Prof Chandrasekhar.
A large number of faculty, staff, and students were present at the event.

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