The conversation between human and AI assistant.
What could be the effect of GST bill on Indian economy?
That makes sense. Do you think this could have any negative effects on the Indian economy?
There are possible negative effects such as initial confusion and disruption due to the transition, which could result in temporary slowdowns in business activity. Additionally, industries that were previously taxed at lower rates, such as textiles and jewelry, may see a slight increase in taxes, which could affect their profitability. However, overall, the GST bill is expected to have a positive impact on the Indian economy.