Higher tariffs and taxes seem to be hurting India’s drive to raise the share of exports in gross domestic product (GDP) and push up economic growth. The recent poor performance of exports has been accompanied by a rise in the incidence of indirect taxes, which are now equivalent to 9.5 per cent of GDP net of subsidies.
The ratio (of indirect taxes to GDP) is up 180 basis points in the last five years. In the same period, the exports to GDP ratio is down 570 basis points from 25.4 per cent of GDP in FY14 to 19.7 per cent in the last fiscal year, according to the data from the ...
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