Automobile sector woes and the conundrum of the GST rate cut

Mumbai: The fear of slowing automobile sales tipping over into a recession is mounting. The industry is pinning its hopes on a cut in the goods and services tax (GST) rate from 28% to 18% to reverse the trend. But the government has to balance several aspects of growth and fiscal prudence. Indeed, the spotlight is on 20 September, when the GST Council is to meet and the uncertainty on the rat…