National conference on second generation GST reforms begins

The Gulati Institute of Finance and Taxation, in partnership with the Indian Council of Social Science Research, launched a two-day national conference on Friday, focusing on Second Generation Reforms in Goods and Services Tax (GST) in India and their implications for state finances and fiscal policy. Keynote speaker R. Kavitha Rao, Director of the National Institute of Public Finance and Policy, highlighted that GST 2.0 has reduced the effective tax rate from 11.6% to 9.5%.

The GST-GDP ratio has also declined to 5.96% in 2025-26 from 6.07% in 2022-23. The conference was chaired by Arvind Modi, a former IRS official and senior economist at the IMF. The first plenary session, "GST performance, fiscal federalism and revenue productivity under GST 1.0 - 2.0," featured speakers Sacchidhananda Mukherjee of NIPFP, R. Mohan, former Income Tax Commissioner, and Sebastian Morris, Professor from Goa Institute of Management.

The conference also included sessions on GST revenue performance, industrial variation, GST and State finances, fiscal federalism, and digital administration. Over 25 research papers were presented, and the conference will be formally inaugurated by Chief Minister V. D. Satheesan, who is also the Finance Minister and Chairman of GIFT, on the following Tuesday.