Union Minister Piyush Goyal Says GST Reforms Will Power India’s Journey To Viksit Bharat 2047

The recent announcement of a transformative reform in the goods and services tax is poised to significantly impact India's economy. Described as the 'biggest ever reform' since independence, it aims to benefit consumers through widespread tax reductions on essential items including pharmaceuticals, food products, textiles, and footwear. These changes are expected to enhance the ease of doing business by streamlining processes and procedures. Lower tax rates are anticipated to stimulate demand, fostering industrial growth and expansion. This surge in demand is projected to attract greater investment, subsequently creating more job opportunities. The reform, effective from September 22, is seen as a crucial step towards achieving a developed India by 2047 and promoting indigenous products, ultimately improving the quality of life for 1.4 billion citizens.