Prime Minister Narendra Modi's announcement of ‘next-generation’ reforms for the goods and services tax (GST) is welcome.

Markets rally on GST reform optimism, Sensex up 676.09 points, Nifty climbs 245.65 points, auto and FMCG stocks lead.

The Indian government aims to slash GST on entry-level cars from 28 percent to 18 percent, Reuters reported. A maximum 5 ...