The government has limited fiscal space to support growth, but low inflation can help the monetary authority ease policy rates further and help boost the economy that has badly lost its momentum, RBI governor Shaktikanta Das said yesterday. Continue Reading
Finance Minister Arun Jaitley Monday hinted at further rationalisation of GST by merging the 12 and 18 per cent slabs, while criticising Congress for oppressing the country with a high indirect tax rate of 31 per cent. With an increase in revenue, India will eventually have a standard goods and services tax (GST) rate between 12-18 per cent for commonly used goods. This would be in addition to 0 per cent and 5 per cent for essential items and a higher rate for luxury, sin and demerit goods.