India to grow at 6.3-6.8 pc in FY?26, GST rate cuts to boost consumption, taper tariff shocks: CEA
GST
Dated:- 29-8-2025
PTI
New Delhi, Aug 29 (PTI) Chief Economic Advisor V Anantha Nageswaran on Friday exuded confidence that the Indian economy will grow at 6.3-6.8 per cent in the current fiscal as proposed GST rate cut is expected to aid consumption, even though steep US tariffs pose a downside risk.
Briefing reporters after the April-June GDP growth data was released by the statistics ministry, Nageswaran also said that the 25 per cent penal tariff imposed by the US on Indian goods will be “short-lived” as both the countries are currently negotiating on it.
“There is some uncertainty with respect to the additional tariff w
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jections if the (penal) tariffs remains for a longer period, but we are hopeful it would be resolved sooner,” he said.
The US has imposed a 50 per cent tariff on Indian goods, which includes a 25 per cent penalty for Russian oil imports, which has come into effect from August 27.
Nageswaran said the impact of penal tariffs in economic activity would be concentrated in second quarter (July-September).
“The removal of the uncertainty may unleash higher growth in the third and fourth quarters compensating the impact of second quarter,” Nageswaran said, adding that it is difficult to estimate the downside impact of high tariffs on growth as the situation is uncertain.
Various private sector estimates put the downside risks to GDP growth
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