Spending Or Saving: GST Cut Impact Hinges On Consumer Preference, Says HSBC's Pranjul Bhandari

HSBC Chief India Economist Pranjul Bhandari said the effects of GST rate cuts on a range of consumer goods will be determined based on household behaviour. She explained that of the estimated Rs 2.5 lakh crore tax revenue foregone by the government, Rs 1.5 lakh crore comes from GST cuts.