India Celebrates GST Bachat Utsav: A Boost to Economic Growth and Self-Reliance
India's new GST reforms are celebrated nationwide, promising GDP growth and benefits for various sectors. Prime Minister Modi and Minister Puri highlight the potential to enhance savings, investment, and inclusivity, creating a pathway to a self-reliant India. These reforms aim to lower costs and simplify business operations.
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- India
Union Petroleum and Natural Gas Minister Hardeep Singh Puri announced on Monday that newly introduced Goods and Services Tax (GST) reforms are poised to elevate the country's Gross Domestic Product (GDP) by 0.8%. As these reforms take effect, a wave of celebration has swept the nation, indicative of widespread approval.
Speaking alongside the festive season of Navratri, Prime Minister Narendra Modi, through a video conference, declared the start of the 'GST Bachat Utsav'—a savings festival arising from these reforms. The Prime Minister emphasized that this initiative is set to benefit diverse groups, including the poor, middle class, and entrepreneurs, by enhancing savings and simplifying purchases.
The Next Generation GST reforms aim to streamline business operations and augment investment prospects, thereby contributing to India's growth narrative. The reforms are projected to reduce consumer prices, bolster manufacturing, and support a range of industries, ultimately designing a more inclusive and economically resilient India. (ANI)
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