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The Modi government is once again set to directly affect household budgets – this time through potential GST relief measures
Modi Government Bets Big on GST Reform (Image Source: Internet)
New Delhi: The Modi government is once again set to directly impact the common man's finances—this time through potential GST reforms, reports Dynamite News correspondent.
According to reliable sources, the government is actively considering eliminating or reducing the 12% GST slab to 5%. If approved, this move could lower prices on everyday essentials such as footwear, soap, sweets, toothpaste, and clothing.
The decision may be finalized during the upcoming 56th GST Council meeting, expected later this month. Notably, this possible relief comes as the GST regime completes eight years, potentially serving as a celebratory measure.
What is the government's plan?
The government is considering bringing 12% tax products into the 5% slab. The products on which this relief can be given include
Most of these products are used daily in the homes of the middle class and lower-income groups, so this step will directly benefit the common man.
Current status of GST slab
There are currently four tax slabs in India:
Every product is divided into this category. Such as:
Political view: Preparation for 2029 from now?
Analysts believe that this decision is not just a tax reform but also a big political message. After the victory of 2024, now the Modi government is moving towards taking big "poor and middle class-centric" decisions for the next term.
Finance Minister Nirmala Sitharaman has already said that the GST structure will be rationalized in March 2025. Now preparations are on to implement it in mission mode. If the government abolishes the 12% slab, it will not only be an economic relief, but it will also be seen as an attempt to further strengthen the image of the “middle class-friendly Modi 3.0 government.”
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