#GST: What Happened to India's ‘Second Independence’?? | Analysis by Akash Banerjee

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Chapters:
0:00 - Another 'Masterstroke'
1:44 - GST: The Grand Plan!
4:05 - Why One Nation One Tax is a good idea
5:19 - 3 years (and counting) of failed implementation
8:14 - What Went Wrong with the ambitious plan?
9:20 - Center to Borrow Money to give to States … Wait, What?

Thumbnail Cartoon via Satish Acharya
Twitter - @satishacharya
Website - http://cartoonistsatish.com

3 years to what the NDA Government claimed was India’s ‘Second Independence’

After the disastrous Demonetisation experiment - GST or Goods and Services Tax was BJP’s most ambitious project to boost economic growth. GST endeavoured to change the entire way trade was being done in the country and make it smoother.

With revised laws and taxes, the government centralised the indirect tax system and gave more power to the Centre to control and monitor collections. But from massive growth claims - the GST Council now does not even have money to compensate the States for the shortfall in revenue collection.

A hastily / unplanned / and poorly thought out GST has meant that people go through the same demonetisation pangs once more….in fact with the Govt. STILL refusing to correct its mistakes - GST has ended up being an even more convoluted system.

In this episode of TheDeshbhakt, we’ll talk about the 3-year long journey of the Goods and Services Tax and will find out what went wrong when the reform was itself much needed. Watch the full episode to find more!

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****** Credits *******

Writer : Shreya Mishra
Editor : Tushar Chaudhary
Graphics: Owais Saifi
Producer: Avishrant Pratap Singh

*****Resources and Extra Reading ******

https://indianexpress.com/article/business/economy/gst-council-states-covid-19-indian-economy-6456308/

https://www.business-standard.com/podcast/economy-policy/the-past-three-years-of-gst-and-the-road-ahead-120070100365_1.html

https://www.thequint.com/voices/opinion/gst-third-anniversary-bjp-government-state-governments

https://scroll.in/article/934066/in-charts-the-modi-government-is-facing-a-serious-cash-crunch-thanks-to-gst

https://www.orfonline.org/research/the-big-gst-question-54103/

https://www.cnbctv18.com/economy/gst-collection-relief-in-june-as-collection-hits-rs-90000-crore-first-quarter-reading-at-rs-185-lakh-crore-6240661.htm

https://indianexpress.com/article/opinion/editorials/too-many-taxes-roti-vs-parota-gst-6460650/

https://theprint.in/opinion/its-time-to-rethink-gst-because-no-economy-can-afford-to-retain-a-failed-tax-experiment/338571/

https://www.dailyo.in/business/gst-goods-and-service-tax-income-tax-union-budget-arun-jaitley-narendra-modi-e-way-bill/story/1/23076.html

https://www.orfonline.org/expert-speak/success-or-failure-5-indicators-to-evaluate-gst-performance/

https://www.huffingtonpost.in/entry/how-gst-helped-corporates-but-failed-consumers_in_5c647b48e4b0018ed01b50ee

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