Nearly Rs 2 lakh cr will be in people's hand due to GST reforms: FM Sitharaman
GST
Dated:- 19-9-2025
PTI
Madurai (Tamil Nadu), Sep 19 (PTI) Union Finance Minister Nirmala Sitharaman on Friday said with the slew of GST reforms set to come into effect from September 22, a total of Rs 2 lakh crore will be in the hands of the people, boosting domestic consumption.
With the simplification of the Goods and Services Tax from the earlier four slabs to 2 slabs, Sitharaman said Prime Minister Narendra Modi is keen to ensure that the poor and downtrodden, middle class families and the micro, small and medium enterprises (MSMEs) largely benefit out of the GST reforms.
The finance minister was speaking at the 80th anniversary of the Tamil
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ax to the income. And there will be revenue to the government as indirect taxes. When this virtuous cycle keeps on happening, it is good for the economy,” she said.
To keep it simple, Sitharaman said when there is more spending from the public, there is higher demand. When there is higher production to meet the demand, there will be more jobs. And when there are more jobs, there will be a wider tax base.
To support her point, the finance minister said when the number of entrepreneurs who were paying taxes stood at 65 lakh before GST was introduced in 2017, it did not get reduced to 10 lakh. “But, entrepreneurs understood the benefit and in the last 8 years it has only increased to 1.5 crore,” she said.
Congress leader Rahul Gandhi termed
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