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GST expected to boost growth by 4.2% says Federal Reserve

Updated on: Jul 13th, 2021 - 1:15:05 PM

3 min read

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Updates from 24th April 2017

A U.S. Federal Reserve paper suggests that the impact of GST in India could be double fo what was expected before. Lowering taxes in the input chain will bump up output and result in cheaper products. GST would affect inefficiencies in the production process and eliminate complexities created by arbitrary tax rates and cascading taxes.

The Federal reserve paper estimates GST will boost growth by up to 4.2%, which is double of what was estimated previously. The Federal reserve paper estimates GST will boost growth by up to 4.2%, which is double of what was estimated previously.

As reported in The Hindu

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