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Rate cuts in Goods and Services Tax to pump INR2 trillion into India's economy
The Island
|September 18, 2025
Finance Minister Nirmala Sitharaman says:
India's Finance Minister Nirmala Sitharaman on Wednesday (17 September 2025) announced that the recent Goods and Services Tax (GST) rate cuts, coming into effect on September 22, are expected to pump nearly INR 2 trillion into the economy, putting more disposable income in the hands of consumers and businesses ahead of the festive season.
Speaking at the Outreach and Interaction Programme on Next Gen GST Reforms, Sitharaman said the simplified tax structure will now feature just two main slabs — 5% and 18% — a move aimed at easing compliance, reducing litigation, and boosting consumption.
“With this new-gen tax regime, with only two slabs, INR2 trillion is injected into the economy. People will have cash in hand,” she said, citing a PTI report.
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