Digital transactions hit Rs 18.8 lakh cr as festival demand, GST 2.0 lift spending
The rollout of GST 2.0 and strong digital payment momentum helped in gathering steam for India’s private consumption.
The rollout of GST 2.0 and strong digital payment momentum helped in gathering steam for India’s private consumption.
Sitharaman further commended the CBIC for its efficiency and appreciated the successful rollout of GST 2.0 ahead of the Diwali deadline set by the Prime Minister.
GST 2.0 rollout brings major relief to households with tax rates streamlined to 5% and 18%. Essential goods, food items, cars, bikes, TVs, hotel stays, and services like insurance and fitness are now cheaper, while sin goods face higher tax.
In an exclusive interview with India Today, she shed light on the upcoming GST 2.0, set to be launched on September 22.
As per the report, the government has estimated the net fiscal impact of GST rates rationalisation at Rs 48,000 crore on an annualised basis
Though the debt burden will be a reason for credit weakness, the credit rating agency said, adding that Trump's tariffs will eventually be 'negotiated lower'.
