Yogi Adityanath Applauds GST Reform as 'Next-Gen Tax Revolution'

Uttar Pradesh Chief Minister Yogi Adityanath has commended the GST reforms, labeling them a 'next-generation tax revolution.' He extended his gratitude to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for implementing a request that would simplify the tax structure.

This restructuring is anticipated to bolster India's journey towards self-reliance and economic vitality, offering a new perspective on sustainable development. The two-slab system, incorporating a 5% and 18% rate, promises direct relief to citizens by reducing the tax burden on essential items while imposing higher taxes on luxury goods.

Adityanath highlighted potential boosts for agriculture, MSMEs, startups, and women entrepreneurs, citing faster refunds, simpler compliance, and enhanced business operations. The reforms are expected to manage inflation, enhance sectors like automobiles and construction, and create significant employment opportunities.

(With inputs from agencies.)