Will Indian economy grow faster with reduced Goods and Services Tax (GST)?

Reduced GST will encourage shoppers/consumers to shop in bulk because they won't have to worry about the tax rates. Back in the time of VAT, consumers didn't know about each layer of tax that was added in the whole process starting from production to sales, they were beware of it, so they didn't think much about the taxes. But today if they know the rates of GST which if high will not allow them to shop more. Reduced GST will help in increasing sales.

Hi everybody,

Greetings of the day!

With reduced GST, various products will be affordable to all of us thus demand for products definitely increase in the market this increases the manufacturing of products in our country that will surely increase the economic growth of the country.

And also it benefits to human welfare as various lifesaving expensive drugs will be affordable for us.

By reducing GST government receives less amount in the form of a tax but it can be conquered by the huge demand for products. So no need to worry. It will definitely boost our economy.

Thanks a lot!

Hello Everyone.

In my opinion, present GST system is good for the Indian economy.

But as we know In India people have different classes, for lower or middle-class people this GST system is not good because they don't want to pay taxes.

So, I think for lower or middle class people GST must be reduced.

Other side elite-class people don't hesitate to pay taxes.

This way reduction in GST will boos our Indian Economy.

Hello everyone,

In my opinion, Reducing GST could stimulate economic growth in India by boosting consumer demand, improving business competitiveness, attracting investment, and simplifying the tax system. However, the overall impact would depend on how the government manages the potential loss in revenue and ensures that essential public services and infrastructure are not compromised. To maximize the benefits, a well-thought-out strategy to support long-term economic stability and growth would be required.