Best of BS Opinion: Crude economics, passive approach, and more

Here are the top BS Opinion articles of the day

Impassioned debate has broken out once again over the efficiency and equity of the Goods and Services Tax (GST) following a Supreme Court ruling. But now that GST is beginning to fulfil its potential as a buoyant revenue source, there are ways to reduce Centre-state friction and it is important for cooler heads to prevail and compromises be found to restore the workings of a cooperative GST system, Josh Felman and Arvind Subramanian write. Read it here

In other views:

Jaimini Bhagwati says the undeclared war between Russia and NATO countries via Ukraine has thrown up opportunities for India. If India plays its cards right it could embark on sustained high economic growth and reduce its territorial and other vulnerabilities via-a-vis China, he argues here

The top edit points out that merely holding retail prices of petrol and diesel will not help control inflation; the government needs to go in for deeper macro-economic and fiscal reforms too. Read it here

The second edit explains why Sebi’s update on equity-linked savings schemes could be a game changer for passively managed funds and lead to more efficient tax-saving options for retail investors. Read it here

Quote of the Day

"In 2024, emerging and developing economies would be 5 per cent below where they would have been in the absence of the pandemic"

 

Gita Gopinath, IMF First Deputy Managing Director