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Two-way learning
September, 28th 2011
State finance ministers, who had gone to Europe to learn about the proposed Goods and Services Tax (GST) model, seem to have taught a thing or two to the Europeans. At a meeting with French Minister for Foreign Trade, Madhya Pradesh Finance Minister Raghavji said India, which has not yet introduced the GST and has varying VAT rates across states, saw GDP growth of eight to nine per cent in the last few years, whereas the French economy is projected to grow at just two per cent in 2011 despite the GST. Which system is better? Raghavji asked.
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