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K.R. Srivats

New Delhi , April 20

India must go in for a goods and services tax (GST) system without compromising the fiscal autonomy of States, said the Chairman of the Prime Minister's Economic Advisory Council, Dr C. Rangarajan.

"There is some advantage for implementing a GST system without compromising fiscal autonomy of States," Dr Rangarajan said here on Wednesday.

He felt that the Australian model of single GST would not be appropriate for a country such as India.

In Budget 2006-07, the Finance Minister, Mr P Chidambaram, had set April 1, 2010 as the date for introducing GST. He has also promised to unveil a roadmap, in the next few months, for implementation of a national-level GST from this date.

Indications are that the States, in the current federal set-up, are unlikely to accept any system that would lead to a surrender of their fiscal autonomy.

On fiscal responsibility and budget management legislation, he said the Centre must stand by the commitments under the legislation and there should be no dilution of the goals.

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