New Delhi, Sep 24
The landmark GST reforms should progressively result in a sustained positive impact through significant gains in ease of doing business, lower retail prices and strengthening of consumption growth drivers, the RBI said in its September bulletin released on Wednesday.
The new framework is designed to balance the needs of the common man with ease of administration. Most of the essential items now attract either nil or 5 per cent GST.
The RBI also said that the production and sales of passenger vehicles are likely to pick up in the upcoming festive season, supported by the GST rate cut.
Global uncertainty remained elevated in the wake of the imposition of US trade tariffs on major trading partners and renewed concerns over the fiscal health of advanced economies. The Indian economy exhibited marked resilience as evident from the five-quarter high growth during Q1:2025-26, propelled by domestic drivers, the RBI bulletin observed.
Indian equity markets witnessed bidirectional movements during August-September, the bulletin added