Why Volume Elasticity & Inelastic demand for Essential products have to be studied to make sense of the proposed GST tax cuts.
On India’s Independence Day (15th August 2025), our PM announced GST may be cut for many products as soon as Diwali (20th Oct 2025). Currently, we have four slabs — 5%, 12%, 18% and 28%. He mentioned that the 12% and 28% slabs may be scrapped, and only 5% and 18% may remain. PM Modi announced the…
