Govt may revisit GST in 2-3 years and unify many rates: Arvind Panagariya

Niti Aayog's outgoing V-C says critics overreacted and overestimated the costs of demonetisation

The goods and services tax (GST) has some anomalies in its present form. In many cases, inputs are taxed at higher rates than final products, says outgoing NITI Aayog Vice-Chairman Arvind Panagariya in an interview with A K Bhattacharya. Some compromises had to be made, Panagariya agrees, but adds that these would be streamlined in three years. Edited excerpts:

Your tenure at the NITI Aayog saw two of India’s boldest government decisions – demonetisation and GST rollout. How have these panned out for the Indian economy?

I have been a strong defender of both. In demonetisation, the foremost objective was fighting