Ya only you know right? Do you even know when tax reform happened in China? When was GST and service tax introduced in China?
What has % of credit given to private sector got to do with taxes? You are assuming and hoping with GST reforms in India, you can achieve parity with China. That is not the case here bhai, there are many more factors, India politically, culturally and structurally cannot be the China. You will only be the next India.
OK that answers my question. You have done no basic study on Deng's reforms at all (Taxes/extractions btw come in many guises, GST/VAT is just one small part).
Neither do you understand how short, mid and long term liquidity chains benefit as result of that in like economics 101 way.
If a govt extracts less from an economy at every crucial high OC step for nascent industry, where do you think the liquidity goes genius? Do you know how a bank works when its operating on FRB system? Looked into the 1992 CPC congress decision for eventual FRB (fully implemented cpl years later I believe), and why it was instrumental in unleashing the credit from the environment Deng created in 80s?
I already explained the socio economic argument too, it is not such black and white issue at all. Even taking the face value numbers of the socioeconomic disparity, applying a normal distribution analysis between India and China still leaves major difference in what I am talking about (genuine liquidity flow reform)....i.e India should be at least 2 - 3 times larger in nominal GDP and somewhat bigger in PPP (And assuming 0 ramped crossflow into socioeconomic across the time period) if equivalent reforms were done in India as China did in the 80s....esp how Deng oriented them from ground up as well as top down in sequence.
In fact the stuttering of Indian economy from 2009 for about 5 years show just how bad the liquidity chain situation still was....because in 1991, all the reforms did was largely capital account based only to ease an immediate BoP problem. There was thus still one arm being held behind the back that is now only slowly being released for work.
So using apples and oranges to compare but claiming both are apples is frankly silly and very CPC-groupthink oriented.
I don't agree that CPC is some kind of worship like a religion. Being a member of CPC is a conscious personal choice, and one has to be an adult to make this choice, as oppose to being born into, like those live in religious countries or religious families. Associating a higher moral with a religion is just a "Make Believe" if you are willing to see the ground reality of today's world, and so called loyalty to the religion means none other than the incapability of independent thinking.
For many Chinese like me, we would support any ruling party that can do heck of a job for people of China, and we don't really care if that ruling party happened to have "Communist" in their name.
Well I am just showing people can perceive and label as much as they want to....but no one has full story till you actually live or deeply visit/immerse in the said country.
You see surface of mine, I see surface of yours etc etc.
You made a comment implying those that are stuck wanting a better "next life" because of religious superstition etc are essentially incapable of deep rooted progress etc. Well I personally know my grandfather was well immersed in his religion, didn't stop him from rising from starvation level poverty to becoming something else altogether. It is never black and white situation. After all there are two other large populated countries next to India in same region that have the "one life" and pure heaven and hell concept, and both are doing worse than India overall too. The one to the west even has twice the infant mortality as India....why is their supposedly more "in the now" (given they fundamentally believe in no more lives, this is the one single one to prove the souls worth) orientated culture/religion not helping them compared to a more "backward/lazy" (supposedly endears to just waiting for next life if you current one sucks rather than improve etc) philosophy found in Indian culture? Its because you have little to no idea how this manifests in the actual larger Indian philosophy (where action in current life is given much priority i.e karma) or how people interpret it in their particular context anyway. So no your assertion flat out fails, because we would not see a huge drop in agriculture as part of total Indian economy (from like 70%+) to less than 15% today for example, in just 1 - 2 generations....if people were "rooted" in only waiting for better redemption in a future life. Nor is there sudden mobility achieved and sustained when you have some other philosophy in play overall (inherited or through revolution, dharmic, abrahamic or materialist/atheist etc)...given its always far more nuanced and complicated than that.