GST to boost GDP by 4.2% or Rs 6.5 lakh crore: Fed Paper

India’s changeover to the goods and services tax (GST) has resonated with the Fed: A research note at the US central bank reckons that the biggest indirect tax reforms since Independence could enhance the country’s gross domestic product by up to 4.2%, or Rs 6.5 lakh crore — a sum greater than the central government’s annual borrowing.  Apart of Federal Reserve System’s series of Internationa…