‘One Nation, One Tax’ ( GST ) helps in Reducing logistics costs, Impacted in Trade Facilitation: Economic Survey 2023-2024

The Economic Survey 2023-24, presented by Union Finance Minister Nirmala Sitharaman, highlights the positive impact of Goods and Services Tax (GST) on reducing logistics costs and improving trade facilitation in India. The survey notes India's improved rank on the World Bank's Logistics Performance Index, climbing from 44th to 38th place. GST’s 'One Nation, One Tax' regime has cut down border waiting times, reducing travel times by up to 30% and increasing truck travel distances. The report also praises various government initiatives aimed at enhancing production capacity, streamlining trade processes, and improving logistics efficiency, contributing to better business and manufacturing growth.\r