India may cut GST, but revenue loss and capex slowdown could hurt markets, analysts warn.

• CLSA predicts the GST cut could cost 22 bps of GDP, impacting state finances and tax collections.
• Capex‑driven sectors like infrastructure, construction, cement, and oil marketers may face reduced investment over time.
• Partial GST cut may stall consumption rally, while fiscal targets could force state spending cuts.