GST: Expect disruption says economic affairs commentator Gurumurthy

An interview with noted economic affairs commentator S Gurumurthy.

Published: 01st July 2017 09:18 AM  |   Last Updated: 01st July 2017 09:31 AM   |  A+A-

A file photo of S Gurumurthy | EPS

By Express News Service

An interview with noted economic affairs commentator S Gurumurthy

Why do you think there is so much confusion? Has there been enough engagement with stakeholders?
I think GST will be a big disruptor, like the demonetisation. Demonetisation being a confidential affair, couldn’t be better prepared. But GST being an open affair could admit of better preparation. I believe that more preparation is needed for small and medium businesses.

The Finance Minister made it clear that there could be some disruption. How long do you think it will last?
This disruption can be contained if the government is compassionate in the failings of small and medium businesses.

In its current form, do you think GST achieves its aim of ‘One Nation, One tax’?
One Nation, One tax is a great idea. But it will be more a principle than arithmetic. One tax idea has to be practical in dealing with the ideal of One Nation, One tax.

The govt has indicated the genuine concerns would be addressed. Does this mean further rate revisions?
Hope the government addresses the concerns soonest and fast.

There is a view that in the long-term, there should be only one single tax. Is that the way forward?
Given the diversity of our country and economy, in my view, there can never be a single tax rate

Despite govt's invitation the Opposition has decided to stay away from the launch. Do you think the govt has been isolated?
This is politics.


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