2 years ago Narendra Modi came to power amid what many said was a grim economic and political environment. There was renewed hope and the international business community was closely watching. Businessmen pegged their hopes on coherent tax laws. GST was the solution we were told, but there was a problem. Modi government ended the Congress rule after 10 years but lacked numbers in the upper house.
The congress which is now claiming to be the inventor of the bill flexed its muscles and the bill was stuck in Rajya Sabha, but today the Rajya Sabha is discussing the pros and cons of the bill. The government has given some concessions to the opposition while the opposition too has conceded some ground. In a matter of hours the Rajya Sabha is expected to endorse the GST bill. One India, one tax, but will the GST prove to be the miracle India needs? Will it generate employment and increase business activity and the GDP itself? What will be costlier and what will be cheaper?