NITI backs 5% GST slab for R&D procurement
Published on: May 19, 2026, 1:01 a.m. | Source: The Economic Times
Niti Aayog suggests bringing back a 5% GST rate for research and development purchases. This move aims to boost usable funds for research institutions. The proposal also includes increasing India's R&D spending to at least 2% of GDP within five years. These steps are intended to strengthen the nation's research and development capabilities.
