GST Reduction on Dairy Products: A Boost for Indian Farmers
India's decision to cut GST rates on dairy products from 12% to 5% is praised by dairy cooperatives. The move is expected to raise milk product consumption, improve affordability, and enhance farmer incomes. Leaders from Amul and Mother Dairy laud this as a significant reform for the sector.
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- India
In a significant policy shift, the Indian government has slashed the Goods and Services Tax (GST) on dairy products from 12% to 5%, a move hailed by major dairy cooperatives. This taxation reform is part of the GST 2.0 rationalisation effort aimed at boosting the sector.
Industry leaders, including Jayen Mehta from Amul, have expressed gratitude, seeing it as a catalyst to spur milk product consumption and bolster farmer incomes. Mehta credited the move as a monumental decision that would sustain growth for millions of milk producers across the nation.
Manish Bandlish, Managing Director of Mother Dairy, praised the government's action as an enhancement of dairy product affordability and accessibility. He projected a surge in demand, emphasizing the potential benefits for consumers and the broader farming community.
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