CEA Nageswaran on Modi’s Next-Gen GST Reforms and How They Benefit Middle-Class Households

In an exclusive conversation, Chief Economic Advisor V. Anantha Nageswaran explains how Prime Minister Narendra Modi’s next-generation GST reforms announcement will ease the burden on the common man. He notes that this comes on top of the major direct tax relief announced in the February Budget, which has already lowered taxes for middle-class households. Over the years, GST rates have been steadily rationalized, with many essential items zero-rated and fewer products in the highest slab. The move, he says, will boost disposable income, reduce inflationary pressures, cut input costs for businesses, and support growth—making it a true “Diwali gift.”