GST rejig to give consumption a big push; food and durable goods to turn cheaper: BoB Report

The Indian government is poised to simplify the GST structure, reducing tax slabs and rates on key consumer goods. This overhaul, expected to boost consumption by 0.2-0.3% of GDP, will make items like food products and durables more affordable. The move, coupled with potential RBI rate cuts, is anticipated to spur demand and benefit various sectors.