GST Reforms: A Nation-wide Celebration of 'Bachat Utsav'

BJP MP and CAIT Secretary General Praveen Khandelwal praised the recent GST reforms, referring to them as a significant benefit for the common public. In an interview with ANI, Khandelwal stated that the decision to slash GST rates could reduce the prices of goods by 15-20%, a move celebrated nationwide as 'Bachat Utsav'. Khandelwal noted this would ease the household budgets of ordinary citizens by 15-20%, benefiting every segment of society.

Khandelwal also addressed criticism from Congress President Mallikarjun Kharge, dismissing it as lacking basis. He suggested that Kharge needs a better understanding of the taxation system. Highlighting an economic principle that lower tax rates lead to higher revenue, Khandelwal expressed confidence that both State and Central governments would benefit financially from these reforms. He asserted that Kharge's objections stem from a weak grasp of economic math.

Prime Minister Narendra Modi, in his Sunday address to the nation, expressed that reforms are an ongoing necessity. With changing times and evolving national demands, next-generation reforms like the updated GST system are crucial. Modi emphasized that, based on current national requirements and future aspirations, the new GST structure will predominantly feature 5 and 18 percent tax slabs.