At the Network18 Reforms Reloaded summit in New Delhi, Chief Economic Advisor V. Anantha Nageswaran said the government’s latest round of GST rate cuts, dubbed GST 2.0, would act as a strong stimulus for domestic demand. In a fireside chat moderated by Shereen Bhan, Managing Editor of CNBC-TV18, he expressed confidence that India’s growth this year could trend towards the upper end of the 6.3–6.8 per cent band outlined in the Economic Survey tabled by Finance Minister Nirmala Sitharaman on January 31 this year.

GST Cuts As Economic Stimulus

Nageswaran underlined that the scale of tax savings from GST 2.0 was significant, especially when combined with the income tax reliefs announced in the Union Budget. “The total amount of taxes foregone is exactly the amount of saving that households

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