Basu hails GST, says any price rise to be short-term
PTI Hailing the passage of the GST Bill, World Bank Chief Economist Kaushik Basu today said any immediate "price jerk or inflation" would be a one-time affair, but the tax reform's long-term growth benefit will be immense. "People are talking about price concerns, but the immediate price impact is a small concern, positive or negative, but the biggest impact of the GST is the long-term benefit through cutting down of transaction cost," Basu said. He was speaking to reporters on the sidelines of the Indian Institute of Management, Calcutta-organised Arijit Mukherjee Memorial Lecture. "The GST will cut down transaction cost and double taxation at different points and it will make India a common market. It will give a big fillip to ...
