New Delhi : Economists on Tuesday said the GST 2.0 reforms are set to create new Diwali shopping records in the country as purchasing power has considerably gone up while inflation has come down to a historic low. The reduction in GST has put more money in people’s hands and when purchasing power increases, inflation automatically decreases. “The reduction in retail prices has had the greatest impact on the lower and middle classes.

Those who used to be able to buy one item, say for Rs 100, are now able to buy multiple items,” Harvansh Chawla, Chairman, BRICS Chamber of Commerce and Industry, told IANS. According to him, this is going to be a “historic Diwali”. “Sales that will take place this Diwali will be unprecedented and traders will be immensely benefitted,” he added.

Delhi: On GS

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