GST Reform: Prime Minister Narendra Modi, in his Independence Day address, strongly emphasized the need for GST reform to ease the burden on citizens. He urged state governments to support changes that can make essential goods and services more affordable.
Modi’s Pitch for GST Reform
Modi highlighted that real governance is not just about administration but about giving financial relief to people. Sectors like automobiles, cement, and insurance currently face high GST slabs of 28% and 18%. With GST rates, these rates could be lowered, directly benefiting the middle class.
Festive Relief Before Diwali
Discussions with states are already underway, and if consensus is reached, cars, bikes, electric vehicles, cement, and health insurance may become cheaper before Diwali 2025. Such GST reforms will not only reduce household expenses but also boost festive season demand.
Stock Market Reaction to GST Reform Talks
Following Modi’s statement, shares of auto and finance companies rallied. Maruti Suzuki, Mahindra & Mahindra, and Bajaj Finance saw investor confidence rise, expecting growth if GST rates takes place soon.
Key Takeaway
If GST Rates move sectors from the 28% slab to a lower rate, Indian consumers will save significantly, and industries will gain momentum. The festive season could see cheaper products and stronger purchasing power for the middle class.
Disclaimer: The content on charotarview.com is for informational purposes only and should not be considered as financial or legal advice.
ગુજરાતીમાં વાંચો:-મોદીનું મોટું નિવેદન: GST Reform પર ભાર, દિવાળી પહેલાં રાહતની શક્યતા
