The next government should plan to eventually move to a lower standard rate
Most economic policy follows an entropic path. The first iteration is a relatively clean structure that gets complicated either as experience kicks in or interest groups begin to get their way. The Indian tryst with indirect tax reform seems to be moving in the opposite direction—from chaos to order. The initial version of the new goods and services tax (GST) was extremely complicated. There are now welcome moves to simplify it.
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