The conversation between human and AI assistant.
Is the approval of GST a boon, or a bane for India?
What are some of the long-term implications of GST for the economy?
The long-term implications of GST for the Indian economy will depend on how effectively it is implemented and how it evolves over time. Some of the potential benefits include increased tax revenues, higher formalization of the economy, improved competitiveness of domestic industries, and a boost to foreign investment. However, there are also risks related to inflation, increased compliance costs, and social inequalities.