Daijiworld Media Network – New Delhi

New Delhi, Sep 9: Finance Minister Nirmala Sitharaman expressed confidence that recent GST rate cuts will reach end consumers and assured trust in the industry and traders to implement the reductions. Speaking at the NDTV Profit GST Conclave, she noted that the tax revisions were made after careful consideration of daily essentials, aspirational items for the middle class, agricultural goods, and products critical to the Indian economy.

“All 140 crore Indians will see some benefit from these reductions,” Sitharaman said, emphasizing the inclusive nature of the reforms. She added that GST 2.0 had been in the making for nearly 1.5 years, with the overhaul presented only after a comprehensive package of reforms was ready.

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The finance minister thanked ministers from multiple parties and states for their support and described the GST Council meeting as constructive, with no opposition to the rate cuts. She acknowledged concerns regarding potential revenue shortfalls but emphasized that both the Centre and states are aligned, and efficiency improvements will be necessary to balance the impact.