Arvind Subramanian: GST in India uniquely ambitious

India's GST could become a 21st century standard Many taxes will be rolled in one GST is very messy politically

Is there going to be one tax rate, one GST? You talked about 3 slabs, what are they?

Goods like medicines to have lower tax. 65% of goods to fall under standard GST rate and some items like luxury goods and tobacco to have higher tax.

Will GST implementation result in less corruption?

Yes, I agree. Tax evasion and corruption will fall.

Help 'Make In India' by making 'One India'.

Will GST boost India's growth rate?

Simplification and uniformity will be a boost to country's growth.

Are prices going to go up or down?

In principle, prices should not go up, taxes should not go up.

No major rise in tax on nearly all items.

Think of GST as an overall reform.With GST we are cleaning up the system. We are moving towards simpler and cleaner tax regime.

In an interview to NDTV's Prannoy Roy, Chief Economic Adviser Arvind Subramanian talks about the much-awaited Goods and Services Tax Bill.Here are the highlights of the interview: