As the next-generation Goods and Services Tax (GST) reforms come into effect on Monday, Union Minister Ashwini Vaishnaw expressed gratitude to Prime Minister Narendra Modi, highlighting that the changes will lead to substantial household savings.
Vaishnaw interacted with shopkeepers in the national capital to raise awareness about the reforms. Speaking to the media, he said, “I want to wish everyone for Navratri. PM Narendra Modi has taken a historic decision to reduce the tax slabs, which will help every household save. Bachat Mahotsav has begun. Shopkeepers and customers are both very happy. People will save on about 99 per cent of daily-use items. I thank PM Modi for this.”
He further urged citizens to make a conscious effort to use swadeshi products in their daily lives.
Under the new system, the previous four-slab structure has been replaced by a streamlined two-slab regime of 5 per cent and 18 per cent. A separate 40 pc slab has been retained for luxury and sin goods. Essentials like UHT milk, pre-packaged paneer, and Indian breads will see NIL GST rates, while household items such as soaps, shampoos, toothbrushes, toothpaste, tableware, and bicycles are now taxed at 5 pc.
Also Read: Next-gen GST reforms to boost Bengal's economy, says FM
Earlier, Prime Minister Modi lauded the GST rationalisation as a “double bonanza” for citizens during the festive season. Addressing a public event in Itanagar, he said, “From today, next-generation GST reforms have been implemented, and GST Bachat Utsav has started. On the occasion of festivals, the people have gotten a double bonanza.”
During the event, PM Modi met artisans and entrepreneurs promoting local swadeshi products. He distributed placards reading “Garv se Kaho Yeh Swadeshi Hai,” which shopkeepers said they would proudly display in their stores.
Also Read: GST Bachat Utsav begins, celebrate it, buy Swadeshi: PM Modi
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