GST Rate Overhaul: Relief for Consumers and Boost for Haryana's Economy

In a major development, Haryana Chief Minister Nayab Singh Saini lauded the GST Council's decision to lower tax rates on commonly used items, calling it a commendable move. The council has reshaped the tax structure, effective from September 22, narrowing it to two primary rates of 5% and 18%.

The revised rates cover a wide range of products from personal health insurance to everyday food items. Saini, who also holds the finance portfolio in Haryana, expressed gratitude to both the central government and the GST Council for facilitating a reduction in GST rates across food items, healthcare products, and agricultural equipment.

The reduction aims to stimulate domestic spending and mitigate economic setbacks caused by external factors like US tariffs. Saini believes this initiative will significantly relieve farmers and boost various industries in Haryana, presenting a unified vision of 'One India- One Tax- One Market.'

(With inputs from agencies.)