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Tax aftershock creates widening two-speed economy in India

A supporter of India's ruling BJP with a placard during a rally to support implementation of the GST in Mumbai on June 30. The tax's disruptive roll-out and concerns about a widening gap between better-run companies and the laggards poses a challenge to the PM.


INDIA'S biggest tax overhaul since independence has driven a wedge between companies that have adapted to the new levies and a vast swathe of small businesses, representing almost half the economy, that are struggling.

The trend emerging from the first quarter of earnings...

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