India's GST reform prospects boost markets

New Delhi

THE prospect of a goods and services tax (GST) being passed in India has sparked a rally across markets, but analysts say the landmark reform may not provide a sustained boost as recent gains have largely priced in the outcome.

The government is expected to bring up the tax bill this week in parliament. If passed, the reforms would replace a slew of federal taxes and levies in 29 states, transforming the nation of near 1.3 billion people into a customs union.