Yogi Adityanath Hails Transformative GST Reform

Uttar Pradesh Chief Minister Yogi Adityanath has commended the groundbreaking GST reform, expressing his gratitude to Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman for their visionary leadership. In a press statement, Adityanath described the reform as a new chapter in India's tax system.

Announced by Modi on Independence Day, the 'Next Generation GST Reform' is now materializing, said Adityanath. He emphasized that this transformational step will elevate India on the global economic stage by streamlining the tax system into two major slabs of 5% and 18%. Essential goods will remain in the 5% category, while luxuries are taxed higher, aiming to ease family budgets and stimulate consumption.

Highlighting the reform's potential to invigorate sectors like automobiles and construction, Adityanath noted it will generate numerous jobs. He also asserted that the reform simplifies taxes and injects fresh momentum into India's growth, empowering diverse groups and enhancing business ease with features like quicker refunds and streamlined registration.

The Chief Minister explained how resolving the inverted duty structure and promoting a transparent tax environment are critical for business confidence. Endorsed by both the Centre and States, this comprehensive reform will bolster economic stability and inclusivity, with wholesale inflation already reduced below 2% under Modi's leadership, according to Adityanath.

Acting on behalf of Uttar Pradesh's population of 25 crore, the Chief Minister reiterated his appreciation for this unprecedented decision by Modi and Sitharaman, marking a pivotal shift in India's economic trajectory.

(With inputs from agencies.)