Spurt in consumption to drive revenue buoyancy, to meet fiscal deficit target of 4.4 pc: Sitharaman
GST
Dated:- 7-9-2025
PTI
New Delhi, Sep 7 (PTI) Finance Minister Nirmala Sitharaman has expressed confidence that revenue buoyancy driven by spurt in consumption will take care of the estimated GST shortfall of Rs 48,000 crore following reduction in tax rates on a host of items, and hence there will be no impact on public finances but definitely bolster GDP growth.
She also emphasised that consumption boost to be provided by landmark GST reform and better-than-expected first quarter GDP growth number may help in exceeding the projected pace of 6.3-6.8 per cent for FY26.
Asked about impact of GST rate cuts on fiscal deficit, Si
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
cent slab.
Nearly 400 products – from soaps to cars, shampoos to tractors and air conditioners – will cost less when the rejig of the GST is effective from the first day of Navaratri on September 22. Premiums paid on individual health and life insurance will be tax-free.
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. EVs and small cars will be taxed at 5 per cent while other white goods at 18 per cent – slabs that are lower than current rates.
Calling the landmark GST overhaul a 'people's reform', Sitharaman said that rationalisation of rates for a wide swath of products will benefit every family.
“This is a reform which t
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =