• Monday, May 23, 2022

Business

Indian opposition to boycott tax launch

Indian Parliament illuminated prior to the implementation of the new Goods and Services Tax (GST) regime.

By: Eastern Eye Staff

Indian opposition parties vowed Friday (29) to boycott the launch of a new national tax, adding to the strain ahead of the country’s biggest ever fiscal reform. Businesses are bracing for upheaval as India rolls out the long-awaited goods and services tax (GST) with the aim of transforming the nation of 1.2 billion people and its $2 trillion (£1.5 trillion) economy into a single market. The main opposition Congress party dismissed the tax launch event at midnight on Friday as a “publicity gimmick”. Other parties said they would join a boycott of a special sitting of the two parliament chambers — to be held by prime minister Narendra Modi when the tax takes effect. There have only been…

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