On the eve of Diwali, the Union Government patted itself on the back for GST revision and claimed that the benefits are reaching the consumers, particularly on 54 products, which include white goods and automobiles.
Sharing details on the sale of white goods, Government said that good such as televisions, washing machines to smartphones and air conditioners have reported unprecedented sale in the last month. Notably, 85-inch televisions were completely sold out, and Government data claimed several families upgraded their appliances to newer models, reflecting rising consumer confidence and purchasing power.
The Government also claimed that rising consumption and investment reflects strength of GST revisions with over 25 lakh jobs created as demand spurs India’s electronics manufacturing boom.
The claims were made by Finance and Corporate Affairs Minister Nirmala Sitharaman, Commerce and Industry Minister Piyush Goyal and Minister for Railways, Information & Broadcasting, Electronics & Information Technology Ashwini Vaishnaw, at a press conference in the national Capital.
Sitharaman said that the Prime Minister Narendra Modi had announced from the Red Fort that Next-Gen GST Reforms would be implemented before Diwali.
“Accordingly, rate reduction, simplifying the process, bringing down number of slabs from four to two, and resolving classification-related issues have all been completed well before time,” Sitharaman said.
