Blank shot? Surveys hardly noticed any impact of GST rate cuts on consumer spending in India
The impact of GST rationalization, nonetheless, was expected to go far beyond lower inflation. It was supposed to put more money in the hands of consumers, addressing weak income growth, which was expected to convert into higher consumer spending and thus economic growth. In the absence of high-frequency official data on income and spending, various consumer surveys act as a crucial bridge to gauge current perceptions of these two key variables.
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