CEA Sees GST Reforms Cushioning Tariff Blow, Pegs GDP Drag at Just 0.2–0.3%

CEA Sees GST Reforms Cushioning Tariff Blow, Pegs GDP Drag at Just 0.2–0.3%

The Chief Economic Advisor (CEA) V Anantha Nageswaran on Wednesday that the next reforms of the Tax on Goods and Services (GST) will help to cushion the economy of India against the adverse effects of the emerging tariffs of the United States, which are currently in 50 percent in Indian shipments. He estimated the net GDP growth with only 0.2-0.3 percent in the current financial year. Nageswaran said that the reforms, as of September 22, the fi…

GST Cuts to Cushion Impact of U.S. Tariffs on Indian Economy: CEA

India’s Chief Economic Advisor V. Anantha Nageswaran said on Wednesday that the recent cuts in goods and services tax (GST) announced by the government will help offset the impact of U.S. tariffs on the Indian economy. The move, initiated by Prime Minister Narendra Modi’s administration, is expected to boost domestic demand and provide a counterbalance to weaker export demand. Nageswaran noted that the net impact of higher U.S. tariffs and lower…