Yogi Adityanath Applauds GST Reforms as India Steps into New Economic Era
Uttar Pradesh Chief Minister Yogi Adityanath commended the latest GST reforms, urging that these changes propel India towards becoming a global economic leader. He highlighted the reforms' potential to simplify compliance, boost employment, and encourage self-reliance through 'Swadeshi' products, while rationalizing GST rates for better business transparency and trust.
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In a strong endorsement of the newly unveiled Goods and Services Tax (GST) reforms, Uttar Pradesh Chief Minister Yogi Adityanath praised the initiative as a pivotal move to position India as a leading global economy. Speaking on Thursday, Adityanath lauded Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman for what he described as a 'far-reaching historic decision' poised to enhance India's growth trajectory.
The Chief Minister emphasized the reforms' potential to simplify compliance processes and increase employment opportunities. 'Compliance with GST will now be simpler. The ease of doing business will reach new heights, and millions of new employment opportunities will be generated,' Adityanath remarked, reinforcing the reforms' broad-spectrum benefits.
The GST Council's decision to streamline tax rates into two primary slabs was highlighted as a step forward in promoting 'Swadeshi' products, resolving international disputes, and ensuring a transparent tax system. The reforms categorize essential goods and services under a 5 percent slab and standard goods under an 18 percent slab, while luxury items face a 40 percent rate.
(With inputs from agencies.)
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