Recent GST rate cut credit negative, says Moody's

Updated:3 months, 2 weeks ago IST

New Delhi, Jul 31 (ANI): The recent cuts in the Goods and Services Tax (GST) rates will weigh on the government's fiscal consolidation and are credit negative for the country, said credit rating agency Moody's. In a statement, Moody's added that the tax cuts, which follow cuts in January 2018 and November 2017, will pressure the government's fiscal consolidation effort, which is already diminished relative to the original fiscal deficit targets set last fiscal year.

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