Lucknow: The ‘Next Gen GST Reform’, implemented on the first day of Sharadiya Navratri, has infused fresh momentum into the market. Addressing a press conference at Universal Booksellers in Hazratganj on Wednesday, Chief Minister Yogi Adityanath said, "The reduction in GST rates is providing significant benefits to consumers, traders, and entrepreneurs. While offering direct relief to the public, the reform is also set to strengthen the market and generate new avenues of employment." He emphasized that as India’s largest consumer state, Uttar Pradesh’s traders and consumers stand to gain the most from these reforms.
Highlighting the scope of relief, the Chief Minister said, "GST has been reduced to zero on notebooks, pencils, and other educational materials, while most essential household items now fall under the 0% or 5% tax slab. Additionally, 33 life-saving medicines have been fully exempted from GST. Increased market consumption, he noted, is driving higher production, benefiting traders and entrepreneurs, and creating fresh employment opportunities for the youth." These measures, he said, have provided substantial relief to consumers during the festive season.
Underscoring the economic impact, CM Yogi pointed out that GST collections nationwide have risen from Rs 7 lakh crore to Rs 22 lakh crore since its implementation, while in Uttar Pradesh, collections have more than doubled from Rs 49,000 crore to over Rs 1.15 lakh crore.
Before the press conference, the Chief Minister interacted with traders and consumers in Hazratganj market, distributing pamphlets and banners on GST reforms and engaging directly with shopkeepers and customers.
On this occasion, traders and consumers expressed gratitude to Prime Minister Narendra Modi and the Union Finance Minister for introducing such transformative measures. CM Yogi remarked that these reforms were crucial for the Indian economy and represent a decisive step towards providing relief from inflation.
