GST will stimulate Indian economy in medium-term: ADB chief economist

Proceeds from the goods and services tax (GST) will continue to grow, enabling India to step up public spending on infrastructure, which would in the medium term result in faster economic growth, Asian Development Bank chief economist Yasuyuki Sawada said in an interview. Sawada said the indirect tax reform along with the lingering effect of demonetization, having temporarily led to a slowdown in…