India's 'One Nation, One Tax'

The video discusses the rapid shift to a new tax system, highlighting the challenges and potential chaos during the transition. It emphasizes the benefits of a unified tax rate across states, despite the initial hiccups. The speaker sees this change as a medium-term positive, with a focus on evolving towards a more streamlined tax structure.

In what way does the speaker describe the transition period to the new tax system?

What does the speaker suggest about the number of tax brackets and exemptions in the new system?