On The Buck Stops Here, Chief Economic Adviser Arvind Subramanian talks of the "thrilling and hair-raisingly inspiring" experience of being part of GST history. "Revenue Secretary and I shook hands and hugged each other (when the bill was passed)," he said. On inflationary consequences of GST, he said, "If it's kind of within the 20% range, the impact on aggregate inflation and especially in terms of the impact on the poorer sections will be negligible." He also said it was not a big issue whether the rate is capped or not.
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