Union Finance Minister Nirmala Sitharaman has said that the new GST regime will improve consumption by citizens and it will not impact capital expenditure.
In an interview with a private news channel, Mrs Sitharaman said, 99 per cent of all the goods and services are now either in the zero, five or 18 per cent bracket. She said, it was the first time that both the issue of Compensation Cess and a comprehensive proposal on GST had been taken up by the Centre. The Minister said, Petroleum and alcohol products will be outside of GST.
The Minister informed that, government is working on measures to support exporters who are impacted by the 50 per cent US tariffs. She said, a package for exporters is being prepared. Mrs Sitharaman said, the objective of Atmanirbhar Bharat was not only about producing everything in the country, but also about self-respect in the face of uncertain global trade policies.
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