India’s Goods and Services Tax (GST) system has come under sharp criticism, with former Infosys CFO Mohandas Pai taking aim at its ambiguities. “This is silly and complex. It will lead to tax terrorism,” Pai wrote on X, adding that it is making citizens “hostages to rent-seeking officials” and creating endless disputes. His message to … Read more
Minutes after the 55th meeting of the Goods and Services Tax (GST) Council concluded in Jaisalmer on Saturday, former Chief Economic Adviser Arvind Subramanian raised sharp concerns over the trajectory of the GST framework. Labeling the decisions as a “national tragedy,” Subramanian accused policymakers of violating the foundational principles of the “Good & Simple Tax” … Read more
Swaminathan Aiyar, Consulting Editor, ET Now, says strong GDP growth is associated with a fast rise in credit. After all, growth has to be financed. Some would say it is a sign that the GDP data are being inflated. One way or the other, either we are going to have GDP data revised downwards or … Read more
After two professors of Ashoka University resigned, senior Congress leader P Chidambaram Friday asked what does this say of the “academic freedom” in the country and urged people to rise and resist the “imposition of one thought“. He alleged that this “BJP thought” will “wreck” India and turn it into an autocracy. “What does it … Read more
On ‘more appropriate’ economic metric, Bangladesh has not surpassed India and is unlikely to be in future, former chief economic adviser Arvind Subramanian said on Saturday, asserting that GDP per capita is an estimate for one indicator of the average standard of welfare in a country. Congress leader Rahul Gandhi had taken a dig at … Read more