Rethinking the budget in a post-GST India4 min read 03 Jul 2017, 03:10 AM IST
Perhaps future budgets can use a service model for allocating funds. If it's lighting we want, electricity is far superior to kerosene
The goods and services tax (GST) is finally here, so perhaps now is the time to reflect on how the budget can be updated for a post-GST India. Just as the GST aims to create national uniformity in taxation, rethinking budgets can also push efficiency. A bold step the government can take is doing away with narrow ministerial distinctions when schemes or programmes have intersecting stakeholders and benefits. Instead of top-down, government spending could be rethought bottom-up. In fact, one could even allow ministries to compete for budgetary support if the ultimate service or benefit is similar or the same.
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