Fitch raises India’s FY26 GDP growth forecast to 7.4% on strong consumption, tax reforms

December 4, 2025 1:25 PM

Fitch raises India’s FY26 GDP growth forecast to 7.4% on strong consumption, tax reforms

Fitch Ratings on Thursday revised India’s GDP growth forecast for FY26 to 7.4%, up from its earlier estimate of 6.9%, citing strong domestic demand and the positive impact of recent tax reforms. The global rating agency said private consumption remains the primary engine of growth this fiscal year, supported by “strong real income dynamics, improved consumer sentiment, and the benefits of goods and services tax reforms.” It added that robust household spending has kept economic momentum f...

GST revamp to benefit small and medium farmers: Minister

September 7, 2025 10:50 AM

GST revamp to benefit small and medium farmers: Minister

The GST reforms will have a wide-scale impact on the agriculture sector, benefitting small and medium farmers because due to reduced GST rates on agricultural equipment, the cost of agriculture will decrease, and farmers' profits will increase, according to Union Agriculture Minister Shivraj Singh Chouhan.  The GST on bio-pesticides and micro-nutrients has been reduced, which will benefit farmers. Also, the trend of farmers towards bio-fertilisers from chemical fertilisers will definitely incr...

GST reductions to boost cooperatives, farmers, rural enterprises: Ministry

September 6, 2025 4:55 PM

GST reductions to boost cooperatives, farmers, rural enterprises: Ministry

The sweeping GST reforms unveiled this week will strengthen the cooperative sector, make their products competitive, increase demand for their products and increase the income of cooperatives, the Ministry of Cooperation has said. According to a statement, the GST reforms will promote rural entrepreneurship, promote cooperatives in the food processing sector and ensure affordable access to essential goods for millions of households. "GST rate reductions will benefit cooperatives in farming and...

PM Modi hails NextGen GST reforms as boost to ease of living, healthcare, and economic growth

September 4, 2025 10:26 PM

PM Modi hails NextGen GST reforms as boost to ease of living, healthcare, and economic growth

Prime Minister Narendra Modi on Thursday highlighted the transformative impact of the Government’s NextGen GST reforms, underscoring their role in enhancing ease of living, strengthening public health and nutrition, and supporting India’s middle class, MSMEs, and rural economy. Addressing the latest phase of the reform, PM Modi described the measures as a continuation of India’s decade-long commitment to bold economic reforms, including corporate tax reductions, GST implementation, and pe...