In addition, around 60,000 persons would get employment in the accountancy sector, he told reporters.
Terming GST, which came into effect on Saturday, as a historic moment, he said it was like the nation achieving economic and tax freedom.
On the GST awareness campaign, Mr Dattatreya said the Union Finance Ministry with the association of different institutions conducted 1,118 workshops in Telangana and Andhra Pradesh states in the last six months for the benefit of the trading community and general public.
Around 150 GST Seva Kendras were set up and a manual which contains complete information was also made available to help the traders, he said.
Mr Dattatreya also said that from now onwards there will be no delays in the transport of goods as the check-posts situated at different state borders were removed.
With the GST rollout, the GDP growth will go up from seven per cent to 9 per cent and inflation will see a downward trend as the prices of essential commodities will come down, he added.