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India's Q1 GDP Growth Hits 7.8%; Tax Policy Focus Shifts to Process Reforms

16 reports, 10 independent Updated Fri 00:00
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Finance Minister Nirmala Sitharaman stated that India's real GDP grew by 7.8 percent in the first quarter of the financial year 2026-27, which was achieved in the April-June quarter. This growth figure surpassed the Reserve Bank of India's earlier estimate of 7 percent. Additionally, Sitharaman noted that India's foreign exchange reserves stood at approximately USD 700 billion.

From aninews.in

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Sitharaman also indicated that the upcoming GST Council meeting on October 7 would focus on process reforms under 'GST 2.0,' including e-invoicing and input tax credit rules. She stated that the Council would review the implementation of rate rationalisation rather than undertaking broad-based rate cuts.

From ianslive.in

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  • Nirmala SitharamanUnion Finance Minister of India and representative of India's economic policy

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