India Morning News
New Delhi: Modi govt has announced major cuts in GST rates, giving a strong push to Indian economy and stock markets. At a time when India is facing the challenge of 50% tariffs from the US, this move is being seen as a timely booster for growth.
Finance Minister Nirmala Sitharaman shared details of GST changes, which will have a revenue impact of about ₹48,000 crore. Market experts are calling it a “consumption revival bombshell,” as it is expected to increase people’s spending power and support economic growth.
Stock market reacted quickly to announcement. The Sensex jumped by almost 900 points, while the Nifty gained 1% and moved close to important 25,000 mark.
According to Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, “This GST reform is far better than expected and benefits many sectors. Biggest winner is Indian consumer, who will now enjoy lower prices. The rise in consumption will further strengthen the economy and could bring positive surprises.”
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