New Delhi
The GST rate cuts on more than 50 items, mostly connected to households, has boosted sentiment in the stock market and industry in anticipation of heightened consumer spending in the festival season.

While markets and industry are buoyant, experts say the GST relief to the middle class and small businesses is a part of a series of populist measures that the government has taken to boost sentiment ahead of the state elections in the winter which will be a prelude to the General Election scheduled for next year.

Stock markets were buoyant after the GST rate cuts announced on Saturday to a new lifetime high of 36,749 points. The 30-share index finally settled higher by 222 points at 36,718 points, its record closing level.