New Delhi, Sept. 4 -- Brokerage firm Motilal Oswal Financial Services believes the GST reforms announced on Wednesday, September 3, will give a significant boost to consumer sentiment and revive slowing consumption, which in turn will support India's economic growth at a time when global uncertainties pose a key headwind.

The brokerage firm highlighted that the government is focused on lifting and stimulating the domestic economy. The latest announcements on GST, once implemented, will be the government's first big structural reform in the current term, which will also kickstart a cycle of positive uptrends for the Indian equity market.

"The current valuations at nearly 20.8 times versus the long-period average of 20.7 times are reasona...