To read the full version of this content please select one of the options below:

India's new tax will boost growth in the long term

Friday, July 14, 2017

Subject

Implementation of the GST in India.

Significance

The GST, inaugurated on July 1, has met with a mixed reception, but has nonetheless been hailed by Prime Minister Narendra Modi as marking the final stage in the integration of the Indian nation. If teething problems can be overcome, it promises to give transparency to a notoriously opaque economy.

Impacts

  • The individual states' fiscal deficits should decrease.
  • GST service providers will be increasingly in demand.
  • The GST Council may provide a blueprint for more cooperative relations between states and the centre.
Expert Briefings Powered by Oxford Analytica
Stay up to date
Sign up to the Expert Daily Briefings email alert and receive up-to-the-minute analysis of global events as they happen.
*If your university does not have access to Expert Briefings, visit our information page to find out more.