GST Reforms by Centre Aim to Boost Swadeshi and Self-Reliance, Asserts UP CM Yogi Adityanath

Uttar Pradesh Chief Minister Yogi Adityanath praised the Goods and Services Tax (GST) reforms introduced by the Centre, describing them as a transformative tax change. He expressed gratitude to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for the GST rate reduction. The new two-slab structure of 5% and 18% is expected to lower household expenses, enhance purchasing power, and support India's path to self-reliance.

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Deputy Chief Ministers Keshav Prasad Maurya and Brajesh Pathak also supported the GST changes. Maurya highlighted the reforms as a significant step towards simplifying life for 1.4 billion Indians, while Pathak referred to it as a Navratri gift for the nation. The revised GST rates will see essential items like food, medicines, and educational materials taxed at 0% to 5%, whereas luxury goods will incur a 40% tax.

Reactions from Business Leaders

Business leaders have shown support for the GST reforms. Anjani Kumar Pandey from Omaxe Limited commended the government's leadership and dedication to improving business conditions. Yawar Ali Shah of AMA Herbal noted that the decision would benefit exporters, increase disposable income, and bolster the economy in upcoming quarters.

Former Aligarh Muslim University Vice-Chancellor Tariq Mansoor stated that these reforms would simplify business structures, encourage entrepreneurship, and create job opportunities. The changes are anticipated to make business operations smoother with faster refunds, easier compliance, and simpler registration processes.

Opposition's Criticism

Samajwadi Party President Akhilesh Yadav criticised the ruling Bharatiya Janata Party (BJP), accusing it of exploiting citizens over the past decade with a flawed GST system. He claimed this system has led to increased inflation and unemployment, adversely affecting the poor, farmers, and middle class. Yadav accused the government of overtaxing people and betraying their trust.

Addressing party members in Lucknow, Yadav argued that the BJP's policies have crushed vulnerable groups while failing to deliver on promises. He described the GST reforms as a betrayal of public trust rather than a beneficial change.

Impact on Various Sectors

Chief Minister Adityanath emphasised that the GST reforms would invigorate sectors such as agriculture, MSMEs, startups, women entrepreneurs, and young people. He mentioned that increased transparency in tax administration would boost investor confidence. Additionally, these changes are expected to help control inflation and stimulate consumption in industries like automobiles and construction.

The chief minister called this decision historic and transformative for India's tax system. He expressed gratitude on behalf of Uttar Pradesh's people to the prime minister and finance minister for initiating this new chapter in taxation.

With inputs from PTI