A time for radical tax reform

A few weeks ago, a Pune-based think tank, ArthaKranti, put forward a proposal to abolish virtually all taxes and replace them with a simple banking transaction tax (BTT). The idea soon had the world of Indian economists abuzz. Not only is the BTT a radical suggestion, but it became known that the Bharatiya Janata Party was studying it and might consider including it in its manifesto.

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