Kotak MF MD Nilesh Shah hailed the two-slab GST structure announced by Union Finance Minister Nirmala Sitharaman on Wednesday. Calling it a "Diwali gift of ₹48,000 crore", Shah said, "GST slab consolidation and rate rationalisation is 'ek teer, kai nishaane (one arrow, multiple targets)'." He noted that GST reforms will help offset adverse impact of US President Donald Trump's tariffs.