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GST Boosts India's Growth Prospects, Says S And P

by Mary Swire, Tax-News.com, Hong Kong

13 October 2016


The passage of India's long-awaited goods and services tax (GST) should boost the efficiency of the tax regime and the nation's growth prospects, says ratings agency Standard and Poor's.

In a new report on economies in the Asia Pacific region, S&P said that, for India, "a solid macro and structural story became even better with the passage of the goods and services tax (GST) by the upper house last month."

"This is arguably the most important structural reform to date by the Modi Government, and will improve efficiency, cross state trade, and tax buoyancy."

"The GST passage gives us additional conviction around our eight percent-ish GDP growth forecast over the next few years. The consumption-driven macro numbers continue to look quite good. However, investment has yet to make a sustained appearance in the growth data, which must eventually change."

TAGS: Asia Pacific | tax | investment | India | goods and services tax (GST) | trade | services

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