GST Exemption May Not Cut Prices Of Cars, TVs And Other Products As Rupee Continues To Fall

Rupee’s fall may dampen positive sentiments flowing in from the latest round of GST rate cut as TV manufacturers and car makers are evaluating price hikes.

Rising interest rates in the US along with global uncertainty over trade war has seen strengthening of dollar over the past few months as rupee plunged to an all-time low of Rs 69.1 against the greenback on July 19. It is among the worst-performing Asian currencies. Indications are the situation may continue for some more time. A weaker rupee makes imports more expensive and raises costs for domestic manufacturers.

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