Government hopes to roll out a new goods and services tax (GST) in 2016, Prime Minister Narendra Modi said on Tuesday in a speech to Indian and German businesses at the Indo-German Summit in Bangalore. PM Narendra Modi and German Chancellor Angela Merkel are speaking at the Indo-German Summit in Bangalore Government hopes to roll out a new goods and services tax (GST) in 2016, Prime Minister Narendra Modi said on Tuesday while addressing Indian and German businesses at the Indo-German Summit in Bangalore. GST, which is currently blocked in Parliament, was among the range of business-friendly measures highlighted by Modi in his speech in Bangalore, during a visit by German Chancellor Angela Merkel. Modi also said his government was speeding up regulatory clearances, reducing licensing requirements in the defence sector and making tax policy more consistent. “We have articulated very clearly that we will not resort to retrospective taxation,” Modi said. H...