Historic GST Reforms: An 'Early Diwali Gift' for India

Goa Chief Minister Pramod Sawant on Thursday hailed the recent GST reforms as an 'early, historic Diwali gift' orchestrated by Prime Minister Narendra Modi, aimed at slashing the prices of essential goods, thereby significantly benefitting citizens across the country.

His remarks followed the GST Council's approval of sweeping changes to the Goods and Services Tax (GST) regime, which now operates on a streamlined two-tier rate structure of 5 and 18 per cent. According to Sawant, these reforms have received widespread support from all societal sectors.

Sawant emphasized that these measures will not only fortify Aatmanirbhar Bharat but also enhance living standards and business ease. Since GST's 2017 launch, Goa has seen taxpayers increase by 112%, from 22,197 to 47,332, with state GST revenue soaring from Rs 1,463 crore in the 2017-18 financial year to Rs 4,424 crore today.

(With inputs from agencies.)