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Prelims Mains
PRELIMS 2017 · INDIAN ECONOMY

What is/are the most likely advantages of implementing ‘Goods and Services Tax (GST)’? 1.…

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2017 paper Indian Economy

Question

What is/are the most likely advantages of implementing ‘Goods and Services Tax (GST)’?

1. It will replace multiple taxes collected by multiple authorities and will thus create a single market in India.
2. It will drastically reduce the ‘Current Account Deficit’ of India and will enable it to increase its foreign exchange reserves.
3. It will enormously increase the growth and size of the economy of India and will enable it to overtake China in the near future.
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