Goa Chamber of Commerce and Industry (GCCI) last evening.
Kanoria said the issue of repatriation of black money from abroad without asking the countries to disclose the identity of the depositor could bolster economy which is in
Few countries like Germany have entered into agreement with Switzerland to get back their money, he said.
“From year 1991, country’s economy has been growing. I fail to understand why our situation is back to the years before 1991,” Kanoria said.
Appealing to the Centre to work towards lifting up the overall negative sentiment, Kanoria said, “While on one side there is poor performance of the union government, there is rise of independent states that are outperforming other states”.
Ruing that the economy which has the potential to grow in double-digit is currently in a disarray, he said the fiscal deficit is widening and the current borrowings have risen to 20 percent of GDP from 10 percent earlier.
He also supported the Goods and Service Tax (GST), saying the imposition of the same will double up per capita income.