GST Reforms Boost Puducherry's Economic Upsurge
Puducherry reports increased economic activity post-GST reforms. Notable rises in vehicle registrations and consumer goods sales signify improved consumer confidence. The Commercial Tax Department is implementing awareness programs to ensure benefits reach people, anticipating stronger tax revenue in the upcoming festive season.
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- India
Puducherry's economy is witnessing a noticeable uptick following the implementation of next-generation Goods and Services Tax (GST) reforms. The Secretary-cum-Commissioner of State Tax, Yasin M Choudhary, attributes this surge in activity to simplified indirect tax measures announced on September 22.
The transport sector leads the way, with vehicle registrations soaring by 35%, indicating robust economic momentum. Data shows car registrations climbing by 37%, with two-wheelers and three-wheelers following closely at 35% and 38%, respectively. Larger vehicles like buses and goods carriers have also seen substantial growth.
The retail sector reflects this positive trend, with departmental stores reporting a 15% spike in the sale of fast-moving consumer goods. In particular, sales of essentials such as hair oil, ghee, and toothpaste have surged, signaling renewed consumer confidence amid the festive season. The Commercial Tax Department remains committed to ensuring transparent communication and engagement with stakeholders to uphold this economic momentum.
(With inputs from agencies.)
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