Indian markets rose on Monday after Prime Minister Narendra Modi announced major GST tax reforms. The move aims to ease compliance, cut rates, and support domestic consumption while U.S. tariffs loom.

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• GST overhaul: new two-rate structure 5% and 18%
• 12% and 28% slabs abolished for simplicity
• Goal: lower burden on MSMEs, essential goods
• Tech-driven reforms: pre-filled returns, faster refunds
• Markets up: Nifty +1%, Sensex +0.84%
• Rupee gained as dollar slipped 0.18%
• Auto stocks surged: Maruti +8.75%, Hyundai +8.15%
• Reforms expected to offset 25% extra U.S. tariffs
• RBI projects 6.5% GDP growth in FY2025-26
• Consumption key driver: 61.4% of GDP last year
• Private consumption forecast +6.9% till March 2026
• Retail inflation lowest since 2017 at 1.55% in July