• Source:JND
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GST Reforms: Union Minister Ashwini Vaishnaw on Saturday asserted that the latest Goods and Services Tax (GST) reforms were not influenced by any external factor. He stated that the reforms were being planned for several months, adding that any external reason, including the imposition of 50 per cent US tariff, were not the reason behind the changes. Vaishnaw emphasised that the government has fulfilled the promise that the Prime Minister Narendra Modi made in his Independence Day speech from the Red Fort. He further stated that the recent reforms are set to benefit several sections of the country, including farmers, businessmen, and service sector employees.

GST Reforms: Union Minister clarifies the reason

“The preparation for GST reforms had started about one-and-a-half years ago...before the US elections. This initiative was taken in line with PM Modi’s clear goal of reform, perform, and transform. This GST reform will start a transformation journey of the country,” Vaishnaw stated. Earlier last month, the US imposed 50 per cent tariff on Indian goods, affecting several sectors of businesses.

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Apart from this, Union Agriculture Minister Shivraj Singh Chouhan, while addressing a crowd in Madhya Pradesh's Bhopal, emphasised that the GST reforms will significantly benefit the farmers. “Our aim is to reduce the cost of production in farming and increase production...The farmers of the country will get a big benefit from the GST reforms,” Chouhan stated.

GST Council approved the changes

Earlier on September 3, the GST council approved the two-tier structure of 5 per cent and 18 per cent. While announcing the changes, Finance Minister Nirmala Sitharaman stated that several daily use products and services have been brought under the bracket of 5 per cent, providing a major relief to the middle class. While the NDA MPs welcomed the step by stating that it will benefit the residents, the opposition leaders pointed out that these reforms should have been announced earlier.

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