GST rationalisation proposed! Lower slabs to lift domestic consumption, aid essentials & durables— what do economists say

Economists believe that the government's proposed GST rationalisation will bolster domestic consumption, providing crucial support to the Indian economy amidst global headwinds like US tariffs. The reforms, benefiting MSMEs and consumers, aim to simplify the tax structure and boost disposable income. Reduced rates on essentials and consumer durables are expected to stimulate demand and offset weak urban consumption.