India’s economy showed remarkable resilience in the third quarter, driven by GST 2.0 reforms and a revitalized rural sector. Consumer demand spiked as simplified tax structures under the updated Goods and Services Tax regime encouraged spending across urban and rural divides. Rural economy improvements played a pivotal role. Higher minimum support prices for key crops, coupled with favorable monsoons, boosted farmer incomes significantly. This translated into increased purchases of consumer goods, two-wheelers, and FMCG products, signaling a broad-based recovery. Analysts point to GST 2.0’s streamlined compliance and reduced input costs as key enablers. Businesses reported easier filings and lower logistics expenses, allowing them to pass on savings to consumers.
Related Posts
