Madurai :

It will take some time for cashless transactions to be popular as 70% of the Indian population is below the poverty line and they have to be brought into the system, said TR Dinakaran, chairman of the Ramalinga Mills .  He was speaking at the diamond jubilee celebrations of the Madura Yarn Merchants’ Association here on Sunday.

“Farmers and other people, who are below the poverty line, should be educated and made aware of the methods of cashless transactions to make the demonetisation drive successful,” he said.

The meeting resolved that GST should be implemented at the earliest as it would help the textile industry. Uniform taxes at the lower slabs should be applicable to all units of the textile industry, including yarn and readymade garments.

Senior president of the Tamil Nadu Chamber of Commerce and Industry S Rethinavelu presided over the event. President of the Madura Yarn Merchants Association N Palaniappan, secretary R Kishankumar Goyenka and KG Devadoss among others spoke.

source: http://www.timesofindia.indiatimes.com / The Times of India / News> City News> Madurai News / TNN / December 19th, 2016