Sushil Kumar Modi, Deputy Chief Minister of Bihar, and designated Convenor of Group of Ministers on IGST, said that there is no possibility of any change in Goods and Services Tax (GST) rates till the revenue stabilises. Speaking at FICCI's 92nd Annual Convention on the theme 'India: Roadmap to a $5 Trillion Economy', Modi allayed the fears of any hike in GST tax rate saying the media reports have been wrong in predicting an increase in the rates. On the chances of any reduction in GST rates, he said that there is no possibility of any change in slabs and tax rates, hike or cut, in the near future.
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