Managing Demonetisation - A Short Term Challenge - Arvind Subramanian
CHIEF Economic Advisor Dr. Arvind Subramanian said yesterday:
One of the challenges for the Indian economy in the short term is to manage the demonetisation fall-out 'How do we manage demonetisation in the next few weeks and months'.
Indian economy is well- cushioned to cope up with these events.
Lower and simple taxes are always preferable but there was a strong case for inclusion of real estate and electricity into the GST value chain.
Indian economy has to grow by 8%, then exports must expand by 15%.
But key factor to watch, in the unfolding global scenario, would be whether the developed countries would be able to 'handle' more exports especially that of services from developing countries like India.
Passage of GST Constitutional Amendment Bill is the "mother of all achievements".