India moves closer to 1 nation, 1 tax

August 3, 2016 4:59 PM

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NEW DELHI – India's upper house of Parliament has passed a bill to rationalize the country's convoluted tax structure, creating a "one nation, one tax" market to boost its economy.

India's main opposition Congress party and other groups voted for the bill on Wednesday after working out compromises with Prime Minister Narendra Modi's government.

Also read: Tax Bill’s Fine Print: Making It Tougher for Cities, States to Refinance Debt

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