The ‘Next Gen GST Reform’, launched on the first day of Sharadiya Navratri, has revitalized the market. During a press conference at Universal Booksellers in Hazratganj on Wednesday, Chief Minister Yogi Adityanath stated that the reduction in GST rates is greatly benefiting consumers, traders, and entrepreneurs. He noted that this reform not only offers direct relief to the public but is also expected to bolster the market and create new job opportunities. As the largest consumer state in India, Uttar Pradesh’s traders and consumers are set to benefit the most from these changes.
The Chief Minister highlighted the extent of relief, mentioning that GST has been reduced to zero on educational supplies like notebooks and pencils, while many essential household goods now fall under the 0% or 5% tax categories. Furthermore, 33 life-saving medications have been completely exempted from GST. He pointed out that increased market consumption is driving up production, which benefits traders and entrepreneurs and generates new employment for the youth. These initiatives have significantly eased the burden on consumers during the festive season.
CM Yogi also emphasized the economic impact, noting that GST collections across India have surged from Rs 7 lakh crore to Rs 22 lakh crore since its introduction, while in Uttar Pradesh, collections have more than doubled from Rs 49,000 crore to over Rs 1.15 lakh crore. Prior to the press conference, the Chief Minister engaged with traders and consumers in the Hazratganj market, distributing pamphlets and banners related to the GST reforms and directly interacting with shopkeepers and customers. During this event, traders and consumers expressed their appreciation to Prime Minister Narendra Modi and the Union Finance Minister for implementing such transformative reforms.
CM Yogi remarked that these changes are vital for the Indian economy and mark a significant step towards alleviating inflation.