India’s recent goods and services tax (GST) reforms are expected to ease retail prices and boost consumption, according to the Reserve Bank of India’s latest monthly bulletin. The changes, which took effect this month, lowered levies on everyday items such as toothpaste and air conditioners. The RBI said the reforms should “progressively result in a sustained positive impact through significant gains in ease of doing business, lower retail prices and strengthening of consumption growth drivers.” The bulletin also noted that increased seasonal agricultural sowing may help stabilize food prices. These remarks come ahead of the October 1 monetary policy review - the first since U.S. tariffs on Indian goods were enforced. Despite external pressures, the bulletin maintained a cautiously optimistic outlook on growth.