GST reforms can boost India’s GDP by 0.8 per cent: Hardeep Singh Puri
(source : ANI) ( Photo Credit : ani)
India’s Union Petroleum and Natural Gas Minister Hardeep Singh Puri shared exciting news on Monday about the latest GST reforms kicking off today. He called them a real cause for celebration, much like the ongoing Navratri festival, and said they could give the country’s GDP a solid 0.8% boost.
Puri highlighted how these changes fit perfectly into India’s push for self-reliance under the Viksit Bharat vision—a developed India by 2047. “There’s a wave of happiness everywhere you look,” he told . “It’s not just Navratri or the budget festivities; reduced GST rates on everyday items will help everyone, from the lower middle class to economically weaker sections.”
Prime Minister Narendra Modi echoed this enthusiasm in a video address to the nation on Sunday, as Navratri began with its worship of Shakti. He tied the festival’s energy to the Aatmanirbhar Bharat campaign, announcing that the Next Generation GST reforms mark the start of a nationwide GST Bachat Utsav, or Savings Festival.
“This will make saving easier and let people buy what they want without breaking the bank,” Modi said. He stressed that the perks will reach the poor, middle class, young people, farmers, women, shopkeepers, traders, and entrepreneurs. During this festive season, he added, every home will feel more joy and affordability.
Modi congratulated families across India on these reforms and the Savings Festival, noting they’ll speed up the nation’s growth story. They’ll simplify business operations, draw more investments, and ensure every state plays an equal role in development.
Experts expect this new GST framework to cut compliance hassles, lower consumer prices, and supercharge manufacturing. It supports key sectors like agriculture, automobiles, fast-moving consumer goods (FMCG), and renewable energy. Overall, it aims to reduce living costs, empower small and medium enterprises (MSMEs), expand the tax base, and fuel inclusive economic growth for all Indians.
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