Insight: PM's policy advisor & NITI Aayog's vice-chairman Arvind Panagariya speaks to NewsX

| Tuesday, August 2, 2016 - 23:26
First Published |
PM's policy advisor, NITI Aayog, vice-chairman A Panagariya, NewsX, GST, Indian economy,

A few hours from now, the much-awaited Goods & Services Tax (GST) will be taken up for discussion in the upper house of the Parliament. If passed, the Bill would integrate the economy and provide for a common national market.
What would GST would mean for you? If implemented, citizens will end up paying just one tax that will be called the GST. All other taxes like excise duty, Value Added Tax and others will no longer exist, thereby simplifying the Indian tax system.
Market experts say that its introduction is essential in the emerging environment of the Indian economy, adding almost 15 billion dollars to the Centre's revenue kitty. 
Promoting exports, creating more employment opportunities and boosting growth are some of the other advantages that the GST is likely to bring home.

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