1/ 🚨 New Working Paper 🚨
With @arvindsubraman , @navneerajs , Praveen Ravi & Varun Balotia, we take a hard look at India’s electricity sector.
India’s electricity sector is no longer about outages.
It’s about pricing that taxes production, subsidises the better-off, and…
3/elec States need to think carefully about electricity distribution and pricing. Tax on electricity supply to industry is a tax on State economic growth, job creation, production, investment & exports. It reduces competitiveness.
3/elec States need to think carefully about electricity distribution and pricing. Tax on electricity supply to industry is a tax on State economic growth, job creation, production, investment & exports. It reduces competitiveness.
On Sep. 2 we summarized in @bsindia, the multiplicity of rates in, & complexity of, the GST in two tables
Did the recent reforms address these issues?
Answer: yes, considerably
@abhishekecon, Varun Balotia, Navneeraj Sharma, Praveen Ravi & I show this in the next 2 tweets
1/
On Sep. 2 we summarized in @bsindia, the multiplicity of rates in, & complexity of, the GST in two tables
Did the recent reforms address these issues?
Answer: yes, considerably
@abhishekecon, Varun Balotia, Navneeraj Sharma, Praveen Ravi & I show this in the next 2 tweets
1/
Of course, other aspects of the recent reforms--growth impact, revenue consequences for the Center and states, and implications for cooperative federalism--are uncertain and/or challenging
These are discussed in the @EconomicTimes piece below
end
Complexity
Of the 4 categories: (1) duty inversion, (2) arbitrary (3) value-based and (4) end-use/input-use based classifications:
substantial progress has been made on (1) & some on (2)
Overall, a Good and Simple Tax is still elusive but real progress has been made
3/
Multiplicity
The 2 tables show number of rates pre & post reforms
1st table: Rows highlighted in blue are eliminated rates
2nd table: The bulk of goods & services are now in the 0, 5, 18 & 40 percent slabs (blue rows).
But about 30 rates (on selected products) remain
2/
Devesh Kapur & I are excited to share that our @HarperCollinsIN book on 75 years of Indian development-A Sixth of Humanity-will be released in New Delhi on Oct. 24 @ 6 PM @ Teen Murti Bhavan
We'll be in conversation w/ Montek Ahluwalia moderated by @menakadoshi
Details below
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