Goods and Services Tax – GST – Dated:- 12-5-2017 – Today, the Reserve Bank of India (RBI) released the report entitled State Finances: A Study of Budgets of 2016-17 , an annual publication that provides information, analysis and an assessment of the finances of state governments. It is the primary source for disaggregated state-wise fiscal data and delineates the changing dynamics of fiscal federalism over the years. The theme of this year s report is the Goods and Services Tax (GST). Highlights of the report are: Introduction of GST would have economy-wide ramifications in terms of growth, inflation, government finances and external competitiveness over the medium-term. It is likely to champion a new course for cooperative federalism in I
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