Next-Gen GST Reforms: India’s Economic Game-Changer
Sikender Kumar, BJP Rajya Sabha member, highlights GST rationalisation as transformative, akin to 1991 liberalisation and UPI revolution. GST 2.0 aims to stimulate demand, enhance competitiveness, and fortify fiscal relations, potentially adding Rs 20 lakh crore to GDP. Reforms focus on affordability, institutional change, and a unified national market.
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- India
Sikender Kumar, a BJP Rajya Sabha member from Himachal Pradesh, describes the GST rationalisation as a transformative reform that could empower consumers, boost entrepreneurship, and fortify India's economic sovereignty.
In his recent article, Kumar, also a former Vice-Chancellor of Himachal Pradesh University, compared GST 2.0's potential impact to the 1991 liberalisation and the 2016 UPI revolution, emphasizing its role in linking personal prosperity to national growth by enhancing productivity and institutional trust.
The GST 2.0 reform aims to stimulate demand, improve competitiveness, and stabilize fiscal relations, offering a growth philosophy grounded in economic theories. The new GST is envisioned to significantly energize the economy, with Indian households benefiting from reduced taxes on essentials, which promises to create a unified national market and expand the taxpayer base.
(With inputs from agencies.)
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