'India's Biggest Tax Reform Is Flawed': Yashwant Sinha On GST

PUBLISHED ON: July 3, 2017 | Duration: 23 min, 45 sec

   
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Amid opposition over multiple GST rates, former External Affairs minister Yashwant Sinha tells NDTV that India's biggest tax reform is flawed. Talking about the future of the Indian economy ahead of the release of his book, Mr Sinha adds that an opportunist opposition is stalling reforms.
Highlights
  • GST is the biggest indirect tax reform
  • We have been working on it for 20 years
  • It is the result of a compromise and compromise is not the best solution
  • Each state will look at gain, loss, so will lead to litigation
  • Should have avoided multiple rates, it leads to lobbying
  • Rate multiplicity leads to discretionary powers
  • We had all the time in the world, could have had better solution
  • Tax is just part of larger economic reform
  • Private sector investment is important
  • Need to get rid of bad loans. No notebandi data available
  • Real growth of 8 percent is needed to get rid of poverty and unemployment
  • Government has not sought my views on GST
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