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NITI backs 5% GST slab for R&D procurement

Niti Aayog suggests bringing back a 5% GST rate for research and development purchases. This move aims to boost usable funds for research institutions. The proposal also includes increasing India's R&D spending to at least 2% of GDP within five years. These steps are intended to strengthen the nation's research and development capabilities.

19 May 2026 1:01 am