GST reform: Turning crisis into opportunity for India's growth story

The finance ministry is clear in its message that the reforms would be comprehensive, going beyond rate rationalisation. The question is how the government should go about it

There is now a consensus among policymakers that the answer to the Trump tariffs lies not in retaliatory measures but in wide-ranging domestic reforms. 

 

The government has taken up this agenda. Immediately after the Union Budget, a task force on ‘Deregulation’ was set up under Cabinet Secretary TV Somanathan. 

 

In his Independence Day speech, the Prime Minister announced the creation of a task force on refor­ms to help India achieve the vision of a ‘Viksit Bharat’ by 2047.  In the same address, he also committed to wide-ranging goods and services tax (GST) reforms by Diwali 2025. These announcements clearly signal