Analysis of the Impact on Economic Growth of GST1 (2017) and GST2 (2025) in India: A Quantitative Case Study
South Asian Journal of Social Studies and Economics · pp. 114–123 · Published 11 Oct 2025
10.9734/sajsse/2025/v22i101179Abstract
India's Goods and Services Tax (GST), launched in 2017 as GST 1.0, fundamentally transformed the country's indirect tax framework by unifying multiple tax streams. On September 22, 2025, GST 2.0 was implemented, introducing a streamlined two-slab system (5 percent and 18 percent), extensive rate reductions across more than 375 items, and enhanced compliance protocols. This study employs official government data and projections to assess these reforms' structural and economic implications. Results indicate consumer savings of approximately 13 percent on household groceries and highlight potential short-term revenue adjustments. While reforms foster affordability and economic growth, challenges remain in broad sectoral inclusion. Key recommendations include integrating petroleum products into GST and advancing AI-enabled compliance.
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