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GST achieved after a decade but multiple rates is an issue: Ex-RBI official

The former RBI officer said India needed to focus on health and education to achieve a higher growth

IANS  |  New Delhi 

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Former Deputy Governor Rakesh Mohan on Wednesday said the rollout was a colossal task achieved after over a decade but the multiplicity of rates still remained a challenge.

"has been achieved after a decade. Multiple rates is an issue," Mohan said here at the 'Economics and Governance' event organised by Penguin publishers.

The has tax-slabs of 5, 12, 18 and 28 per cent. is at a special rate of 3 per cent.

In addition to the tax rates, there is also a cess rate on luxury and sin goods like high-end cars, aerated drinks and and products which results in further variations in effective rates of taxation under the new indirect tax regime.

The former officer said India needed to focus on health and to achieve a higher growth rate.

"Health and is a challenge. We have the worst health and indices. India can't grow at 10 per cent without major improvements in these sectors," he said.

"Improving the two sectors is the biggest task before us in the next five years," he added. "also has been completely neglected so far."

First Published: Wed, August 09 2017. 16:24 IST