GST will open India to new limitless possibilities: Finance Minister Arun Jaitley

New Delhi : Union Finance Minister Arun Jaitley on Friday said with the launch of the Goods and Services Tax (GST) India will awaken to limitless possibilities to expand its economic horizons and it will create a one tax, one nation and one market.

"We have assembled today (Friday) for an important journey of the nation. We are in the process of making history with the launch of the GST," Jaitley said, speaking in Parliament during the special function of GST launch.

President Pranab Mukherjee, Vice President M. Hamid Ansari, Prime Minister Narendra Modi along with several cabinet ministers and MPs were present in Parliament. 

"At the midnight hour we will be launching one of India's strongest and most ambitious tax and economic reforms in history," he said. 

"For India it will begin altogether a new journey. It's a journey where India will awake to limitless possibilities to expand its economic horizons, and loftier political positions," Jaitley said. 

"The new India will create one tax, one nation and one market," the Finance Minister said.  He also emphasised that GST is an important achievement for the whole country.

Jaitley said the GST roll-out shows that "India can rise above narrow politics", referring to several parties coming on board to support the pan-India tax regime.