New Delhi : Union Finance Minister Nirmala Sitharaman said tax benefits due to the recent GST rate cuts were passed on to the common man as she presented a report card on how Indians benefited from the reforms. The government was closely monitoring 54 daily use items. We found that in every one of them, the tax benefit due to the GST reforms has been passed to the end consumer. The Prime Minister’s Diwali gift has been delivered, Sitharaman said.
The government overhauled the GST regime, announcing sharp reductions in rates on food and daily essential items as well as consumer durables like TVs and refrigerators. The GST reforms came into effect on September 22, the beginning of Navratri. The move came amid a geopolitical churn unleashed by US President Donald Trump’s tariff and trade policies.
The Union minister highlighted that AC sales doubled on the very first day GST reforms kicked in, on September 22, while TV sales saw an 30-35% increase. Continuing from where Sitharaman left off, Commerce Minister Piyush Goyal stated that vehicle sales surged during Navratri, with Maruti Suzuki selling 1.65 lakh cars in the first eight days.
There has been a 25% increase in the sale of electronics this year. Secondly, due to the GST reforms, food prices are decreasing. The rising demand for electronics is directly benefiting the manufacturing industry, Vaishnaw underscored.
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