Earlier this month, GST Council unanimously approved collapsing the existing four-tier structure into a simplified two-slab system, effective 22 September—coinciding with Navaratri.
The reforms are a paradigm shift in India’s approach to economic governance. The system is simple enough for a small shopkeeper, yet sophisticated enough to power a $5 trillion economy.
The rate rationalisation this time will impact over 420 goods covering a vast range of sectors. The first two exercises to revamp the GST regime were much smaller in both range and impact.
Thanks to Trump’s sudden decision to target India rather than any other country with massive tariffs, many things that ought to have been done earlier are now falling into place.
The BCCI decision has given new life to the lunatic fringe of the Hindu Right. It now has the confidence to force policy changes in accordance with its communal campaigns.
The latest comment comes as New Delhi and Washington have yet to sign a trade agreement. India’s purchase of Russian oil has reduced, but Moscow remains top source for crude.
If deal goes through, Greece will be 2nd foreign country to procure vehicle. Morocco was first; TATA Group has set up manufacturing unit there with minimum 30 percent indigenous content.
Many of you might think I got something so wrong in National Interest pieces written this year. I might disagree! But some deserve a Mea Culpa. I’d deal with the most recent this week.
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