Taxes must be low in low-trust India

But politicians are using taxpayer funds to get elected, making a low-tax regime difficult

A Morgan Stanley report notes 10 big changes that India has seen over the last decade, nine of which were presided over by Narendra Modi. Among these changes are the growing formalisation of the economy, better real estate regulation, efficient welfare transfers, supply-side reforms, the bankruptcy code, flexible inflation targeting, a higher individual commitment to long-term retirement savings, and lower corporate taxes.

The changes mentioned above will deliver sub-par results when we have a democracy that is perpetually in election mode and political thinking is short-term in nature. This is despite visible political stability, with 10 years of the United