INDIAN EXPRESS DATED 06th OCT 2026.

Summary of Important News Items Editorials-483

INDIAN EXPRESS DATED 06th OCT 2026.

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1. GST 2.0 — From Rate Rationalisation to Process Reform

The GST Council is set to consider the second phase of GST reform, shifting attention from tax rates to simpler, technology-driven compliance. After the September 2025 rate rationalisation, the proposed changes include removal of GST officers’ power to arrest, raising the prosecution threshold from ₹1 crore to ₹5 crore, removing mandatory minimum imprisonment, allowing fines in appropriate cases, and issuing no notice where the disputed amount is below ₹10,000. The broader philosophy is that data and automated systems should handle routine matters, while officers should intervene where judgement is genuinely necessary. Changes are also proposed for registration, returns, refunds and demands, and certain services supplied to overseas customers could receive export treatment. Logic: excessive criminalisation raises compliance costs and creates administrative discretion. Gist: GST is moving towards a more predictable, civil-compliance-oriented regime combining ease of doing business with data-based enforcement.

2. RBI Monetary Policy — Inflation Revives the Rate-Hike Debate

The RBI’s Monetary Policy Committee began its three-day meeting amid expectations of the first repo-rate increase in more than three-and-a-half years. Most economists expected a 25-basis-point increase from 5.25% to 5.50%, although a 50-basis-point move was considered a smaller possibility. CPI inflation rose to 4.82% in August, remaining within the RBI’s 2-6% tolerance band but exceeding the 4% medium-term target for a third consecutive month. RBI projections also indicated inflation could average 5.9% in the final quarter of 2026. Significantly, prices increased for 314 of 358 CPI items in August compared with July, suggesting broader price pressures. Logic: monetary policy must act before inflation expectations become entrenched, but excessive tightening can weaken consumption and investment. Gist: the RBI faces the classic inflation-growth trade-off, with policy likely moving from accommodation towards gradual normalisation.

3. Election Commission, SIR and the Supreme Court — Protecting the Right to Vote