India, Dec. 1 -- Let us begin with the reasons that are not responsible for the almost spectacular 8.2 per cent GDP growth rate in the second (July- September) quarter of 2025 26. What has not triggered this higher-than-expected rate is the impact of the GST 2.0 regime. Sure, there were anecdotal reports in the last week of September about how the day the new GST slabs were introduced on the first day of Navratri, 25,000 Maruti cars were booked and sold. Similar figures emanated from other manufacturers across a few sectors.

However, one needs to remember that the second quarter ended on September 30, and the new tax rates were applicable over the last 10 days of the month. The real record sales and purchases made by ebullient consumers ...