GST 2.0 is about more than slashing rates. By fixing inverted duty structures in sectors such as textiles and fertilisers and by streamlining input tax credit flows, it seeks to clear long-standing bottlenecks that have choked efficiency and liquidity. These reforms come at a critical juncture. With the US imposing steep tariffs and calls growing for 1991-style reforms that once transformed India’s economy, GST 2.0 is seen as the first of a new wave of big-ticket changes spanning land, labour, and ease of doing business.