You don’t re­spond to sup­ply shocks by adding de­mand

Mint Asia ST - - News - JAHANGIR AZIZ

Chief Asia econ­o­mist, Jpmor­gan Chase and Co.

We know from the ex­pe­ri­ence of other coun­tries that GST works only when the bands are much fewer than five. In In­dia, we had 15 years of ex­pe­ri­ence of the ser­vice tax, which had worked so well be­cause it was a sin­gle rate.

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