Mon Aug 18 05:50:00 UTC 2025: Okay, here’s a news article summarizing and rewriting the provided text:

**Headline: Diwali Cheer? Modi Promises Next-Gen GST Reforms, Expected to Boost Consumption**

**New Delhi:** Hopes for economic relief are rising across India as Prime Minister Narendra Modi has pledged a new wave of Goods and Services Tax (GST) reforms ahead of the Diwali festival season. The move is anticipated to ease the tax burden on consumers and Micro, Small, and Medium Enterprises (MSMEs), potentially triggering a surge in market activity and festive season demand.

Experts predict that the reforms will primarily focus on reducing GST rates on currently expensive goods. Items like cement, two-wheelers, air conditioners, insurance, hybrid cars, processed foods, apparel, and footwear – currently taxed at 28% – are expected to see a reduction to 18%. This would significantly increase consumer purchasing power and invigorate the domestic market.

A Goldman Sachs report indicates companies like Trent (high end clothes), Page Industries(some outer wear), Bata and Metro Brands(affordable shoes) could directly benefit as lower taxes drive increased sales. Major players in the FMCG and consumer durables sectors, including Nestle, Dabur, and Titan, are also poised to gain.

Brokerage firm CLSA believes that GST cuts on items like air conditioners and cement will help revive the demand. Bernstein notes that the GST reforms may accelerate domestic economic activity in the coming fiscal year.

“These reforms offer a win-win scenario,” said one market analyst. “Businesses will see increased sales, and consumers will have more disposable income, further fueling demand during the festive season.”

While the specific details and timeline of the reforms are still awaited, the announcement has already sparked positive sentiment within the business community and raised expectations for a brighter economic outlook this Diwali.

*(Disclaimer: Investment decisions should be made after consulting certified financial advisors.)*

Read More