Story perspectives

GST cuts delivered mixed consumer impact, inflation near pre-cuts

By Drooid · Sep 21, 2026, 4:24 PM UTC · How we work

Summary

Jairam Ramesh critiques GST

Congress leader Jairam Ramesh said GST cuts delivered mixed consumer benefits after a year.
Automobile retail sales reached 29 million units in 11 months to August 2026, up 20%.
Apparel GST rose from 12% to 18% for items above Rs 2,500, curbing festive-wear sales.
Retail inflation rose to 4.82% in August 2026, bringing many prices near pre-cut levels.
Analyst Ronak Shah said GST cuts improved affordability but did not generate strong demand.

Summary

NPCI introduces MDR

Congress leader Jairam Ramesh accused the Modi government of an all-out assault on household kitchens.
He said spice prices rose 10-25% and onions jumped 82.3% since June.
The National Payments Corporation of India introduced a new UPI Merchant Discount Rate framework on September 15, 2026.
The plan sets a 0.4% MDR capped at Rs 300 for UPI transactions above Rs 2,000.

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Jairam Ramesh critiques GST

Congress leader Jairam Ramesh said GST cuts delivered mixed consumer benefits after a year.
Automobile retail sales reached 29 million units in 11 months to August 2026, up 20%.
Apparel GST rose from 12% to 18% for items above Rs 2,500, curbing festive-wear sales.
Retail inflation rose to 4.82% in August 2026, bringing many prices near pre-cut levels.
Analyst Ronak Shah said GST cuts improved affordability but did not generate strong demand.

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