(PTI)
Proper implementation of the Goods and Services Tax (GST) in India can be worked upon and is not an “unfixable problem”, former RBI governor Raghuram Rajan has said, reiterating that demonetisation was “not a well-planned, well thought-out” move. With the Modi government bringing in ambitious reforms like GST and demonetisation, Rajan said it would be good if such measures were better implemented.
“On the Goods and Services Tax, we will figure it out eventually. It will be nice if we could implement much better than we do. But it’s (GST) not an unfixable problem. We can work on it. I wouldn’t give up hope at this point on that,” Rajan told an audience at the Harvard Kennedy School in Cambridge yesterday.
Rajan, who is currently the Katherine Dusak Miller Distinguished Service Professor of Finance at The University of Chicago’s Booth School of Business, gave the 2018 Albert H Gordon Lecture on the topic ‘Leverage, Financial Crises, and Policies to Raise Economic Growth’. He was asked about the “shoddy implementation” of big ticket reforms like GST and demonetisation in India.
