Next Gen GST Reforms Spark Economic Surge
Union Finance Minister Nirmala Sitharaman announced that Next Gen GST reforms have added Rs 2 lakh crore to the economy. This initiative shifted most goods to lower GST slabs, increasing cash flow among citizens. Since its inception, the taxpayer base and GST revenue have grown significantly.
Devdiscourse News Desk | Visakhapatnam | Updated: 17-09-2025 11:55 IST | Created: 17-09-2025 11:55 IST
- Country:
- India
Union Finance Minister Nirmala Sitharaman highlighted the impact of the Next Gen GST reforms on the economy, revealing a Rs 2 lakh crore boost. This significant infusion has increased disposable income for the populace.
During the Outreach and Interaction Program on GST Reforms, Sitharaman shared that 99% of goods previously under the 12% GST slab have shifted to 5%, and many from the 28% slab have followed suit to the 18% bracket.
The Minister emphasized the New Gen Tax regime, now with just two slabs (5% and 18%), has fueled economic growth. GST revenues have surged to Rs 22.08 lakh crore, while the taxpayer base has expanded from 65 lakh to 1.51 crore.
(With inputs from agencies.)
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