India Official:New Tax To Add 0.9%-1.7% To Annual Economic Growth
NEW DELHI -(Dow Jones)- India's economy may expand between 0.9% and 1.7%
annually if a "flawless" goods and services tax rule is imposed, a top
government official said Friday.
"According to a study, we estimate a substantial boost to economic growth from
a perfect GST regime, but the proposed structure that we have now isn't
flawless, at least not of today," the official, who asked not be named, told Dow
Jones Newswires.
The government plans to impose the new tax in 2010, which will replace all
federal and state factory taxes.
-By Abhrajit Gangopadhyay, Dow Jones Newswires; 91-11-43563301
abhrajit.gangopadhyay@dowjones.com
(END) Dow Jones Newswires
11-20-090224ET
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