Prime Minister Narendra Modi has announced GST 2.0—a bold simplification of India’s Goods and Services Tax, cutting four tax slabs down to two. The government hopes this will boost consumption and cushion India against the looming shock of US tariffs on Indian exports. But will GST 2.0 spark a genuine growth boom—or is it just another short-term fix, like the corporate tax cut of 2019? Debashis Basu explores the promise, the risks, and what it really means for India’s economy.
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