The GST Bachat Utsav kicked off on 22nd September as the Narendra Modi government slashed GST rates in many sectors, benefitting citizens across the country. Our correspondent brings a report on how the next-gen GST reforms are boosting the economy of Madhya Pradesh.
The new GST reforms have provided relief to Madhya Pradesh’s farmers, artisans and businesses. By cutting tax rates across key sectors, these reforms have made products cheaper for consumers and improved margins for manufacturers.
State’s snacks hub in Indore sees major benefits as GST on namkeen has been reduced from 12 per cent to 5 per cent. Similarly, farm equipment and agro-machinery such as tractors and pumps, now attract just 5 per cent GST, making them cheaper and more accessible to the state’s farmers.
Meanwhile, the GST on footwear priced up to 20,500 rupees has been reduced from 18 per cent to 5 per cent, strengthening the industrial units of Indore and Gwalior. The GST reforms have enhanced affordability, boosted local production chains, and supported the economic growth of Madhya Pradesh.
