'If I were in the Indian government, I would look at the growth projections in the next year. If it is a good and normal growth number, I would go for roll back.'
Reform ideas do not occur overnight and evolve over the years.
'What do the moves towards protectionism suggest?' 'That we do not have Aatmavishwas.' 'If you have self-confidence, confidence in your ability to compete with the best in the world, why do you need protectionism?'
'While the GST is structured to be an all-encompassing tax and to create a vastly expanded digital network of recorded transactions, no one knows how traders long used to avoiding taxes will apply their ingenuity,' says T N Ninan.
'We need not worry about the market. If we do the right things, the market will come around,' says economist Raja Chelliah.
Clearly, rich Indians have little confidence in India. Perhaps we are also chronically dishonest.
Business reacted with caution to the reforms of 1991, and demanded protection from multinationals and imports. Twenty-five years later, traces of that demand can still be found, reports Bhupesh Bhandari.
On the present government's 'Make in India' campaign, C Rangarajan, former chairman of the Prime Minister's Economic Advisory Council, says it is important to first ask for whom it is being made.
'Implementation of GST would lead to the growth story of India'.
Growth is going to be an important factor in contributing high tax revenue and in containing the fiscal deficit.
The Rajya Sabha on Wednesday approved the biggest tax reform since Independence.
