Subramanian hails GST, says it is astonishing feat of administration, politics and technology

Chief Economic Adviser Arvind Subramanian on Friday hailed Goods and Services Tax by saying that it is an astonishing feat of administration, politics and technology.

Subramanian said that 5.4 lakh new tax payers added post demonetisation.

"Substantially overachieved on checking inflation; by the end of March, inflation will be well within the target. Farmer loan waiver going to be deflationary not inflationary," said Subramanian.

"Centre won't relax fiscal borrowing limit of states. To accommodate loan waiver, states to cut expenditure/raise taxes, it'll be deflationary," said CEA.

Also read: Economic Survey 2016-17 Vol II | India's fiscal deficit gap may decline to 3.2 per cent of GDP in FY18: Jaitley