GST overhaul a people's reform, touches every family: Sitharaman
GST
Dated:- 6-9-2025
PTI
New Delhi, Sep 6 (PTI) Calling the landmark GST overhaul a 'people's reform', Finance Minister Nirmala Sitharaman on Saturday said that rationalisation of rates for a wide swath of products will benefit every family, boost consumption, and bolster the economy.
In an interview to PTI, the Finance Minister said she will personally monitor passing on of goods and services tax (GST) rate cuts in the form of price reduction but hastened to add that industry has shown positivity towards such cuts.
Within days of the decision, from car makers to public sector insurance companies and shoe and apparel brands have already announced significant pr
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5 per cent for common use goods and 18 per cent for everything else. The existing slab of 12 and 28 per cent rates have been done away with.
In the revamped GST structure, most daily food and grocery items will fall under the 5 per cent GST slab with bread, milk and paneer attracting no tax at all.
Sitharaman said the reform – the single biggest since the 2017 rollout of the one-nation, one tax regime – has been carried out with a focus on the common man. Every tax on daily use items has gone through a rigorous review and in most cases the rates have come down drastically.
While the significant relief in income tax that she gave in her Budget in February this year left more money in the hands of common people, the GST rejig will allo
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id.
Asked about monitoring mechanism for ensuring passing on of GST rate cut benefit, Sitharaman said the ministry has been talking with industry and trade.
“They've all come out openly to say we will pass this on. So, I can see the positivity from industry and trade… I'm very confident they will pass it on,” she said.
“I have said from September 22 my main focus in my job would be to watch out and see if it is getting passed on and where it is not getting passed on, I will engage with industry and say that they have to.” On inflation, she said, it is already well under control and this cut in the GST will actually bring people out to consume more. “There is no doubt about it.” The Finance Minister highlighted that the reforms g
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