Modi favours goods and services tax

NEW DELHI (Reuters) - Narendra Modi, the main opposition party's candidate to become prime minister, said on Thursday he favoured introducing a nationwide goods and services tax (GST).

Plans to introduce a GST to replace existing state and federal levies such as excise duty, service tax, and value-added tax (VAT) have long been delayed by opposition from states fearing revenue losses.

(Reporting by Krishna N Das; Writing by John Chalmers; Editing by Douglas Busvine)