Contrary to the euphoria and costlier-cheaper headlines, the Constitution (122nd Amendment) Bill 2014 doesn’t spell out even the outline of the GST that India is expected to get in the future.
The passing of the GST Bill is just the beginning of a tedious political and operational voyage that should ultimately result in the implementat [...]
1. For every rupee that banks in India have lent in the nine months to December 2013, 13 paise has turned bad – RBI data
2. Stressed assets among PSU banks have reached alarming proportions of approximately 112% of equity – PWC (May 2014)
3. The cost of cleaning up banks’ balance sheets could be as high as 4 per cent of GDP — slig [...]