Lucknow, September 18: Chief Minister Yogi Adityanath said that under the leadership of Prime Minister Narendra Modi, Union Finance Minister Nirmala Sitharaman has announced new GST slabs, which will come into effect on September 22.
Chief Minister thanked PM Modi and the Union Finance Minister for this, saying that this will increase GDP and strengthen the economy.
Addressing presser at the Chief Minister’s residence, Chief Minister Yogi said that the GST Council made this decision in its recent meeting. This is a major part of tax reform and a Diwali gift from the PM to the people of the country. GST was implemented in July 2017. Traders were troubled by various types of taxes. GST took steps to reform various types of taxes. This resulted in increased GST registrations. The biggest tax reform since 2017 has been implemented.
Yogi said that now, only two slabs of GST are in place: five percent and 12 percent. The remaining two slabs have been eliminated. This will greatly benefit the people of the country. People from the kitchen, home, and business sectors will receive significant relief. The public is set to experience significant relief, impacting daily expenses. Capital savings will be achieved. GST on tractors, tires, and other agricultural items has been reduced to five percent. GST on health insurance has been abolished. Vehicle purchases and sales have also been reduced by 10 percent. Stationery has been exempted. GST on luxury products, including tobacco and pan masala, has been reduced to 40 percent.
Chief Minister Yogi Adityanath stated that significant changes have occurred before and after the introduction of GST. 10 lakh crore rupees in GST collections have been collected in five months of this year. Before the implementation of GST, people in Uttar Pradesh were paying GST through 6.5 million registrations. Now, there are over 1 crore GST registrations. The implementation of the new GST system will increase GDP. It will also strengthen the economy. Before the implementation of GST, there were 17 different taxes. GST has enabled the movement of goods from one corner of the country to another.
He stated that this tax system is the most robust since independence. Before 2014, India’s tax collection was 5.44 lakh crore rupees. In 2023-24, it has now reached 22 lakh 25 thousand crore rupees. The result of this growth in 11 years is that highway construction has increased from 91 thousand km to 1 lakh 46 thousand km. The Vande Bharat train is running today. The number of airports has increased from 74 to 164. Metro networking has increased. The
Chief Minister said that Uttar Pradesh is also benefiting from this. We have succeeded in building seven expressways from one and a half. Before 2017, there were two airports. Today, 16 airports are operational. Today, Uttar Pradesh has the best network in the country. Congratulations to PM Modi and the entire team, including Union Finance Minister Nirmala Sitharaman, for this new system. Finance and Parliamentary Affairs Minister Suresh Khanna was also present on this occasion.