Economist K. Vishwanath Shetty said, on Saturday, that the people of the country have benefited after the Union government announced GST reduction.
He was addressing a seminar by giving a special lecture on GST reduction at a private hotel in Yadgir on Saturday. The seminar was organised by the district unit of Bharatiya Janata Party.
Union Finance Minister Nirmala Sitharaman has taken action and reduced GST as promised by Prime Minister Narendra Modi, Mr. Shetty said.
He explained that the BJP government at the Centre has taken a constructive step towards GST after 11 years of continuous study and reduced it to four slabs. This move has benefited people significantly, and it was the biggest GST revolution in the country’s history since independence, and the Modi government has shown its commitment to the people of the country, he added.
The production in the market will automatically increase when people save more, and this will impact tax collection. The economic sector has opined that this can eliminate the financial deficit caused by the GST reduction, Mr. Shetty said.
Source from: https://www.thehindu.com/news/national/karnataka/people-benefitted-after-reduction-in-gst/article70152018.ece
