Monday, December 22, 2025 | 04:16 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

In a clear change of strategy, govt turns to tax benefits to boost demand

The 'Festival of Savings' appears to be the new policy instrument to revive and sustain growth

Tax benefits, economic growth, Modi govt
premium

Illustration: Binay Sinha

A K Bhattacharya

Listen to This Article

A major takeaway from Prime Minister Narendra Modi’s address to the nation on Sunday was a clear confirmation that the government had changed its economic policy focus to revive and sustain growth. Of course, the primary reason for his address was to convey to the nation the likely impact of the decision of the Goods and Services Tax (GST) Council to bring down the number of main rates from four to two and thereby slash rates for over 450 goods and services. The so-called “Festival of Savings” that he believed the GST rate cut would usher in was the stated
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper