Economic growth - The Sixteenth Council

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India’s GST Reforms: Balancing Simplification, Growth, and Self-Reliance

India is set to overhaul its Goods and Services Tax (GST) system, simplifying its multi-tiered structure into two main rates—5% for essentials and 18% for most goods, with a 40% rate on demerit products. The reforms focus on structural fixes, rate rationalization, and ease of compliance to boost consumption, support MSMEs, and attract global investment. Success will depend on managing Centre–state fiscal tensions and ensuring transparency. If implemented effectively, GST reforms could strengthen India’s self-reliance and secure stable, growth-driven development.

Reimagining Nigeria’s Business Environment for Inclusive Growth

Nigeria’s private sector holds immense potential, but systemic frictions—regulatory inefficiencies, infrastructure gaps, and weak contract enforcement—continue to limit growth. This report offers a structural assessment of the business environment across five critical pillars, highlighting the urgent need for institutional reform. While recent policy efforts show intent, deeper, systemic change is required to unlock investment, drive innovation, and position the private sector as a key engine of national development. The time for coordinated, transformative reform is now.

Félix Tshisekedi’s 2025 New Constitution Proposal: A Game-Changer for the DRC or a Power Grab in Disguise?

President Félix Tshisekedi’s administration has reportedly signalled the ambition to draft a new constitution for the Democratic Republic of Congo (DRC) in 2025. The idea of crafting a new constitution for the Democratic Republic of Congo in 2025 is, without question, bold and fraught with complexities.

The Transformation of China’s Economic Miracle

China’s rapid economic growth is no short of a miracle in the global political economy. Propelled by a rise in population, average hours worked, and labor productivity, China became the world's second-largest economy by 2011. However, its astronomical growth has unambiguously slowed in recent years owing to a myriad politico-economic factors.

Mining as a Catalyst: How the DRC Can Empower Its Economy and Leverage Its National Debt

Given the Democratic Republic of the Congo (DRC’s) external debt —estimated at around US$15 billion in IMF Country Report No. 23/102 (2023), this article investigates how the DRC’s mining sector can become a linchpin for sustainable economic growth, debt leverage, and broad-based social development.

Navigating Economic Storms: the Role of Digitalization in India’s Remarkable Growth

Introduction Over the past decade, digitalization has propelled India to become the world’s fifth-largest economy, redefining its economic landscape. This exponential digital transformation and innovation touches every part of society, from enabling street vendors to receive and make digital payments…