Last Updated on October 18, 2025 11:58 pm by BIZNAMA NEWS
Asserts that GST 2.0 reforms have given a major boost to country’s economy
AMN
Finance Minister Nirmala Sitharaman said that the Finance Ministry is closely monitoring the prices of 54 products to ensure that the benefits of the revised GST are reaching the end consumers. She said, the Next-Gen GST benefits have been fully passed on across all 54 items.
She was addressing the joint press conference on GST Bachat Utsav in New Delhi today, along with Information and Broadcasting Minister Ashwini Vaishnaw and Commerce and Industry Minister Piyush Goyal.
The Finance Minister said that, implementation of these GST reforms is a reflection of cooperation between the Central Government and the GST Council to pass on greater benefits to the people. She further added that rate reduction, simplifying the process, bringing down number of slabs from four to two, and resolving classification-related issues have all been completed well before time. She asserted that GST 2.0 reforms have given a major boost to the country’s economy, leading to record sales across key sectors such as electronics, automobiles, and consumer goods during the festival season.
Speaking on this occasion, Information and Broadcasting Minister Ashwini Vaishnaw said, a record sale has been witnessed in this year’s Navratri festival. He said, there has been a 25 per cent increase in the sale of electronics in this year Navratri season in comparison to sales recorded in the previous Navratri festival. He said, food prices are decreasing due to the GST reforms. He said, the rising demand for electronics is directly benefiting the electronics manufacturing industry.
On the GST Bachat Utsav, Commerce and Industry Minister Piyush Goyal said, vehicle sales have surged during the Navratri season, and the electronics sector has also broken all records. He said, amid such a volatile global scenario, the pace of the country’s growth is so strong that even the International Monetary Fund had to revise its forecast for country’s growth to 6.6 percent. Mr. Goyal called the GST reforms as a Double Dhamaka of relief and prosperity for every household.