India, Sept. 5 -- The latest revision of GST slabs has, therefore, arrived at the right time, both politically and economically. It is not only about numbers, but a reset of priorities. The message from Prime Minister (PM) Narendra Modi and finance minister (FM) Nirmala Sitharaman is unambiguous: The Indian middle-class matters, domestic production matters, and self-reliance matters.

Under the older system, the middle-class household often paid disproportionately high taxes on goods that formed part of their daily life. Washing powder, school bags, even certain food items were taxed at rates that squeezed monthly budgets. By contrast, some imported luxury items enjoyed relatively comfortable slabs. This imbalance created resentment, but ...