Context: With the GST revenue settling down, the creation of the group of ministers (GoM) by the GST Council for rate rationalisation and correcting the inverted duty structure is both timely and appropriate.
Economic challenges before GST rationalisation council
Way forward
Conclusion: If the GST rate rationalisation exercise is cleverly crafted along with concomitant changes in the import tariff regime, it can spark off a revival of manufacturing especially in the labour-intensive segments.