SINGAPORE -- India has introduced sweeping reforms to its notoriously complex consumption taxes that are likely to make food, small cars and insurance cheaper, in a measure the government hopes will spur consumption and benefit ordinary people.
Economy
India overhauls consumption taxes to cut rates and spur spending
Move to two-tier system could partially offset hit from US tariffs
India's current four-tier goods and services tax system will make way for two main tiers, starting Sept. 22. © Reuters
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