According to a report released by Bank of Baroda (BoB) on Wednesday, the upcoming three months are anticipated to be more favorable for the industry, as the GST reductions are likely to result in increased demand, thereby enhancing activity. Jahnavi Prabhakar, an economist at Bank of Baroda, noted that the growth in the infrastructure and consumer durable sectors stood out in September. The combination of GST rationalization, the early onset of the festive season, and lower inflation indicates strengthening in the domestic economy, despite ongoing global uncertainties. The implementation of GST reforms alongside the festive season is expected to stimulate consumption demand in the short term.
