GST Bachat Utsav Proves Benefits Reaching Consumers: Sitharaman

GG News Bureau
New Delhi, 18th Oct: Union Ministers Nirmala Sitharaman, Piyush Goyal, and Ashwini Vaishnaw held a joint press conference in New Delhi on the GST Bachat Utsav, outlining the impact of Next-Gen GST Reforms on consumer welfare, industry growth, and job creation.

Union Finance Minister Nirmala Sitharaman said that close monitoring of 54 key products by the Finance Ministry confirmed that the benefits of revised GST rates are reaching end consumers. She added that the reforms, implemented from the first day of Navratri, simplified GST slabs from four to two and ensured smoother compliance. “This is not a correction but a conscious decision to pass on greater benefits to the people,” she said.

Commerce and Industry Minister Piyush Goyal described the reforms as a “Double Dhamaka” — bringing both relief and prosperity to households. He said GST changes and earlier income tax reliefs have increased disposable income and consumer confidence. Goyal noted that Navratri saw historic auto sales, with Maruti, Mahindra, and Tata setting new benchmarks, while reduced taxes on health, insurance, and essentials boosted affordability.

Railways and IT Minister Ashwini Vaishnaw said GST reforms have fueled a boom in electronics manufacturing, with record Navratri sales rising by 20–25% over last year. He added that over 25 lakh jobs have been created as consumption and investment surged. “India’s semiconductor journey has entered a new phase with the launch of production at CG Semi and Kaynes,” he announced.

Vaishnaw highlighted that the GST reforms have strengthened India’s growth cycle — linking consumption and investment — and reinforced the economy’s stability. “Food inflation has shown a 2% deflationary trend, helping maintain household purchasing power,” he said.

The ministers jointly credited Prime Minister Narendra Modi’s vision for driving the next generation of tax reforms that make India’s growth “unstoppable.”