LUCKNOW: Claiming that the ‘Next Gen GST Reform’, implemented on the first day of Sharadiya Navratri, had infused fresh momentum into the market, UP CM Yogi Adityanath said that the reduction in GST rates was providing significant benefits to consumers, traders, and entrepreneurs.
“While offering direct relief to the public, the reform is also set to strengthen the market and generate new avenues of employment," he said while emphasising that as India’s state with one of the largest consumer markets, Uttar Pradesh’s traders and consumers stood to gain the most from those reforms.
While interacting with media persons at Universal Book Depot in posh Hazratganj market, the CM said: "GST has been reduced to zero on notebooks, pencils, and other educational materials, while most essential household items now fall under the 0% or 5% tax slab. Additionally, 33 life-saving medicines have been fully exempted from GST.”
Increased market consumption, he noted, was driving higher production, benefiting traders and entrepreneurs, and creating fresh employment opportunities for the youth.
The measures, he said, would provide substantial relief to consumers during the festive season.
Underscoring the economic impact, CM Yogi pointed out that GST collections nationwide had risen from Rs 7 lakh crore to Rs 22 lakh crore since its implementation, while in Uttar Pradesh, collections had more than doubled from Rs 49,000 crore to over Rs 1.15 lakh crore.
The Chief Minister also interacted with traders and consumers in Hazratganj market, distributing pamphlets and banners on GST reforms and engaging directly with shopkeepers and customers.
On this occasion, traders and consumers expressed gratitude to Prime Minister Narendra Modi and the Union Finance Minister for introducing such transformative measures.
