GST Reforms Spark Fiery Political Debate in India
The BJP hailed the GST reforms as a historic measure benefiting society, while opposition parties criticized the lack of a five-year state compensation for revenue losses. The GST Council's decision to reduce tax slabs drew mixed reactions, with the opposition labeling it 'GST 1.5' and demanding further reforms.
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The Bharatiya Janata Party (BJP) on Thursday praised the recent Goods and Services Tax (GST) reforms, calling them a historic step that promises benefits for various sections of society. However, opposition parties are critical, demanding five years of compensation for states to offset revenue shortfalls resulting from these changes.
The GST Council's recent decision to eliminate 28% and 12% tax slabs in favor of 5% and 18% ones has evoked contrasting responses. Chief Minister of West Bengal, Mamata Banerjee, credited her protests with influencing the decision, citing perceived financial favoritism against her state by the central government.
The debate further intensifies as BJP President J P Nadda describes the reform as a 'bumper gift' from PM Narendra Modi, while Congress leaders decry it as overdue, reiterating demands for a simplified GST system, with ongoing discourse suggesting potential for continued economic disparity.
(With inputs from agencies.)
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