Minister of State for Finance Shiv Pratap Shukla on Thursday said the GST Council is working towards rationalising Goods and Service Tax (GST) rates.
Speaking at the 7th edition of Delhi SME Finance Summit organised by the Confederation of Indian Industry (CII) here, he said a big announcement from the government regarding GST is imminent.
Underlining the importance of SMEs in boosting the economy and generating employment, Mr Shukla said the government was working to promote the growth of the sector.
The finance summit bridged the gap between SME borrowers who need capital to sustain or grow their businesses and lenders such as public and private banks, NBFC’s and Fintechs.
Speaking at the summit, Hero FinCorp CEO and CII Vice Chairman Abhimanyu Munjal said SMEs need to embrace new technologies to compete at global level.