The Great Stimulus: Will GST rate cut spur a consumption boom?

Consumers, especially the middle class and salaried, have rarely had it so good. For long, they have complained of rising inflation and high taxes and equated monthly instalments (EMIs) eating into their disposable incomes and sought relief from the government. This was mirrored in sluggish growth in consumption demand, the biggest driver of India’s gross domestic product (GDP), over the last few years.