India has become a fully integrated economy 57 years after its political integration as a constitutional republic. The goods and services tax (GST) has finally become a reality. The overarching goal of Article 301 of the Constitution was always to ensure that “trade, commerce and intercourse throughout the territory of India shall be free”. The economic integration of Europe was the first step towards the ultimate goal of political integration—a project that now seems increasingly impractical. Our political union has been followed by an economic union.

Source: Mint July 02, 2017 22:41 UTC