GST 2.0 – Macro concerns remain The bond market sentiment turned positive as fears of higher borrowing eased after the 56th meeting of GST Council rationalised current 4-tiered tax rate structure into a simple 2-tier rate structure. As per the Council’s assessment the fiscal impact of rate rationalisation would be to the tune of INR 480 Bn ($5.46 Bn), they expect it to be offset by the buoyancy in tax collections, with not a major impact on the fiscal deficit. However, economists were expecting an impact of Rs 1000 Bn ($11.3 Bn)
