Ajit Abhyankar (for Info only, not official)

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Ajit Abhyankar

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    ...The national debate on GST is a case in point. GST can not be admired and criticised merely based on Rs 10 or Rs15 toothpaste and shampoo. It has to be weighed upon a broader taxation policy perspective. The question at stake is the viability of taxation policy as a whole, which is a reflection of economic policy, and, in turn, the approach towards its duties by the state itself. India’s tax-GDP ratio is 18 per cent which compares miserably when with developed countries (between 30 per cent and 40 per cent) as well as comparable economies such as Mexico, Brazil, and South Africa (between 23 per cent and 26 per cent). India, on the launch pad of development, has to attain a thrust by improving upon this figure to reach a target of 25 per cent. Second, of the total taxes collected in India, almost two-thirds come from indirect taxes while taxes on income and profits contribute only a one-third share. ...

    Indian Express on Aug. 24, 2017, 12:01 a.m.