GST cuts to boost economy, but revenue loss could hit banking sector: Report

New Delhi [India], September 20 (ANI): While the government has estimated an annual revenue loss of about Rs 480 billion, due to the reduced Goods and Services Tax (GST) rates on various products, a recent report by Systematix Research has pegged the figure much higher, at nearly Rs 1.2 trillion.

The report highlighted that lower tax revenues may squeeze the government's capacity for capital expenditure. A slowdo