Income tax relief and goods and services tax (GST) rate cuts are not just for boosting demand, but also supplies,” chief economic advisor V Anantha Nageswaran said on Friday, expressing confidence that economic growth would be upwards of 6.8% in the current financial year.

He said the fiscal measures taken by the central government recently were designed to strengthen both demand and supply.

“What was done in direct taxes in February and indirect taxes in September, they are not about a demand boost. They are also very much about supply boost,” he said at CNBC-TV18’s Global Leadership Summit 2025.

“The most important indicator is not interest rates; it is demand visibility.”

The Index of Industrial Production (IIP) data for September had shown sharp year on year increases in produc

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