Why govt’s Diwali gift of lower taxes could worsen the tariff sting

Aug 27, 2025 | 14:21 IST

The promised cut in GST is good news for consumers. But if buyers postpone their purchases during the crucial festive period to wait for lower prices, India Inc will bear the brunt

Prime Minister Narendra Modi has promised 1.4bn consumers a big Diwali gift of lower consumption taxes, presumably to soften the blow as US President Donald Trump doubled tariffs on India this week. But the cure comes with its own headaches.

TOI

TOI

Why govt’s Diwali gift of lower taxes could worsen the tariff sting

The promised cut in GST is good news for consumers. But if buyers postpone their purchases during the crucial festive period to wait for lower prices, India Inc will bear the brunt

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TOI

Why govt’s Diwali gift of lower taxes could worsen the tariff sting

The promised cut in GST is good news for consumers. But if buyers postpone their purchases during the crucial festive period to wait for lower prices, India Inc will bear the brunt

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