In a historic tax overhaul, India seeks to standardize tax rates for the first time across the country’s 36 states and territories. From afar, India’s motto of “one nation, one tax” makes a lot of economic sense. But as political economist Praveen Chakravarty writes in Foreign Affairs, the new tax code in its current form isn’t sustainable, considering the country’s political, demographic, social and economic realities.
About the Author
Praveen Chakravarty is a senior fellow at the IDFC Institute, a think tank in Mumbai.