UP CM Adityanath hails GST reforms, calls them PM Modi's 'Diwali gift' to nation

Lucknow, Sep 18 (PTI) Uttar Pradesh Chief Minister Yogi Adityanath on Thursday welcomed the recently announced GST reforms by the Centre, describing them as Prime Minister Narendra Modi's "Diwali gift" to the country.

Addressing a press conference here, Adityanath said, "The GST Council has announced tax rebates and reforms which will come into effect from September 22. This is PM Modi's Diwali gift to the people." He said that before GST was rolled out in July 2017, all honest taxpayers were adversely affected as tax rates and cess were very high, and there was no integrated system of taxation. "GST integrated these taxes under the principle of 'one nation, one tax', which led to a significant rise in GST registrations and direct benefits for the economy," he said.

Adityanath said the new reforms have simplified the structure with only two main tax slabs --“ five per cent and 18 per cent --“ which will benefit the common man, farmers and the masses across all sectors.

"These reforms are expected to give a growth push of Rs 2 lakh crore to the economy," he said, adding that items of daily household use will now have zero per cent GST.

"For farmers, the GST on agricultural equipment has been slashed to five per cent, which will help reduce costs and boost the farm economy," he said.

The chief minister also said health insurance will become significantly cheaper, while students will benefit as stationery and notebooks are now going to be cheaper.

"Yes, luxury items will become costlier, but these reforms will empower the poor and middle-class families," CM Adityanath added. PTI MAN KIS MNK MNK