GST 2.0: Axis report predicts shift from capex to consumption-led growth

India’s economic strategy shifts towards consumption-led growth with the implementation of GST 2.0, rationalizing tax slabs to boost demand and benefit MSMEs. The reforms, effective from September 22, aim to increase discretionary income and revive private capex, impacting sectors like retail, FMCG, and automobiles. Union Minister Piyush Goyal hails the changes as a ‘game-changing’ reform that will support India’s development.