Sanjeev Sanyal On GST: Opposition Revenue Fears, Growth Gains Ahead

In this India Today exclusive, Sanjeev Sanyal responds to opposition-ruled states’ concerns that GST reforms could cause revenue losses. He explains that while collections may dip in the short term, simplification expands the tax base and fuels efficiency-driven growth over time. Sanyal stresses that the changes were unanimously passed, with scope to address specific state concerns iteratively. He also weighs in on global challenges, noting that GST reforms are part of India’s long-term agenda and not a reaction to U.S. tariff hikes. However, they come at a crucial time, helping cushion external turbulence. Alongside lower tax slabs, process reforms now ensure faster GST registrations, with 97% expected within three days, easing compliance for businesses.