Datanomics: Fast-moving goods and services key to meeting Modi's objectives

Looking from a different perspective of durability of the products, it is non-durable or fast moving products which would have higher impact on the demand

The GST Council on September 3 dropped two tax slabs, leaving the indirect tax regime with three slabs — 5,18 and sin rate of 40 per cent. A host of fast-moving items such as processed food and services will now come under a lower tax rate,leading to a drop in prices and likely increase in demand. Spend on foodand non-alcoholic beverages has constituted 28-32 per cent of private final consumption expenditure (PFCE) for seven years since 2017-18 (FY18), the year GST came into existence (from July).

 

Categories by purpose

 

Besides food, GST rate cuts on small cars, motorcycles may have