Good & simple, finally

The combined effect of GST bonanza, I-T relief, low inflation and soft interest rates should boost growth

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T'S A CRACKER of a reform. The deep rate cuts in the new two-tier goods and services tax (GST) structure should lift consumption and catalyse the economy resulting in a meaningful boost to national output. A simpler GST with fewer rate slabs, simpler rules, and no anomalies was perhaps overdue. But both the Centre and the states deserve full marks for the super-fast roll-out of the new regime, planned for September 22. From small cars and television sets to textiles and medicines, the sharply lower GST rates should increase purchasing power, though some goods and services will become costlier. Also, an additional levy will be imposed on sin goods in the 40% bracket to shore up revenues that can be split between the states and the Centre.