‘In Principle, Prices Shouldn’t Rise After GST’: Chief Economic Adviser Arvind Subramanian To NDTV

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NEW DELHI:  In an interview to NDTV’s Prannoy Roy, Chief Economic Adviser Arvind Subramanian talks about the much-awaited Goods and Services Tax Bill.

Here are the highlights of the interview:

On challenges of implementing the GST in a federal system

  • Arvind Subramanian: GST in India uniquely ambitious
  1. India’s GST could become a 21st century standard
  2. Many taxes will be rolled in one
  3. GST is very messy politically

Prannoy Roy

  • Is there going to be one tax rate, one GST? You talked about 3 slabs, what are they?

Arvind Subramanian

  • Goods like medicines to have lower tax. 65% of goods to fall under standard GST rate and some items like luxury goods and tobacco to have higher tax.

Prannoy Roy

  • Will GST implementation result in less corruption?

Arvind Subramanian

  • Yes, I agree. Tax evasion and corruption will fall.
  • Help ‘Make In India’ by making ‘One India’.

Prannoy Roy

  • Will GST boost India’s growth rate?

Arvind Subramanian

  • Simplification and uniformity will be a boost to country’s growth.

Prannoy Roy

  • Are prices going to go up or down?

Arvind Subramanian

  • In principle, prices should not go up, taxes should not go up.
  • No major rise in tax on nearly all items.

Arvind Subramanian

  • Think of GST as an overall reform.With GST we are cleaning up the system. We are moving towards simpler and cleaner tax regime.

Source:http://www.ndtv.com/india-news/chief-economic-advisor-arvind-subramanian-on-gst-highlights-1253619

One Reply to “‘In Principle, Prices Shouldn’t Rise After GST’: Chief Economic Adviser Arvind Subramanian To NDTV”

  1. Nidhish Debbarman says:

    Please help the nation to become strong,Congress party played their part in the past ten year’s, now let BJP to do their job.now there is movement from sensex to defence if one can earn then he can purchase so please let the Parliament to pass all the bills which are necessary for the growth of our country.

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