Reply: India has been unilaterally opening its market over the years.
US FQ 3:
With regard to U.S. question 10, India responded that "Revenue from non-tax sources could increase with better policies in the use of scarce resources/assets of the nation. The increasing use of auction mode in this regard would help garner resources."
What does India mean by "the increasing use of auction mode"? Please describe how "auction mode" is currently used and its impact on trade. How does it help garner resources?
Reply: U.S. question 10 was in the context of the Secretariat's observation that "tax revenue continues to be insufficient to finance India's infrastructural and developmental needs" and it asked what tools the Indian government has to address each of these needs.
India's response to the Question was a reference to various steps taken to unlock resources by reducing expenditure and generate revenue from non-tax sources. This includes the use of policies that will enable better utilization of scarce resources and assets by allocating them at market-determined prices. Increasingly, this is being done through auctions, which are also expected to result in better realization of revenue.
