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Lower GST rates to spur consumption, drive growth: S&P
Business Standard
|November 25, 2025
The lowered goods and services tax (GST) rates, income tax cuts and interest rate reductions are likely to make consumption a greater driver of India's growth compared with investment in the current and next financial year, credit rating agency S&P Global said on Monday.
"Lowered GST rates will support middle-class consumption and complement income tax cuts and interest rate reductions introduced this year.
These changes are likely to make consumption a greater driver of growth compared with investment, in this financial year, and the next," the rating agency said in its latest Economic Outlook for the Asia-Pacific region, while retaining its growth forecasts for India unchanged at 6.5 per cent for FY26 and 6.7 per cent for FY27.
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