UP traders, consumers to benefit the most from GST reforms: CM Yogi

Uttar Pradesh Chief Minister Yogi Adityanath Wednesday hailed the next-gen GST reforms, saying it will strengthen the state’s economy the most as consumers, traders and entrepreuners are significantly benefitting from it.

“While this reform has provided relief to consumers, it has also paved the way for strengthening the market and creating employment. Being the country’s largest consumer-centric state, traders and consumers here will benefit the most from the GST reform,” he said at a press conference in Hazratganj, where he also met with the traders and consumers.

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Mentioning that increased consumption has boosted production and brought relief to consumers during the festive season, the Chief Minister said that after the implementation of GST, national collection has increased from Rs 7 lakh crore to Rs 22 lakh crore, while it has increased from Rs 49,000 crore to over Rs 1.15 lakh crore in Uttar Pradesh.

“Most essential household items have been brought under the zero or 5 per cent tax bracket, and 33 life-saving medicines have also been completely exempted from the GST, and the rates on notebooks, pencils, and other educational materials for students have been revised to zero. This is a huge relief to consumers.”

Before the press conference, the Chief Minister distributed pamphlets and banners around the reforms to the traders, who expressed their gratitude to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman.

Calling the reforms “extremely necessary” for the Indian economy, he said the move will prove to be a big step towards providing relief to the country from inflation.

The reforms came into effect on September 22, the first day of Sharadiya Navratri.