Finance Minister Nirmala Sitharaman stated that industries and traders across the country have passed on the benefits of the GST cut to citizens. She mentioned, “Inputs from social media, the media, and on-the-ground sources indicate that traders are indeed passing on these benefits, and there are no concerns about this.” She said that it’s not just a verbal promise but that people are witnessing it in action.
Consumers are witnessing significant savings across key sectors
Speaking at the Bank of Maharashtra Foundation Day celebrations in Pune on Thursday, on the sidelines, Sitharaman noted that consumers are noticing significant changes due to the substantial GST cuts when purchasing automobiles, insurance, medicines, groceries, and daily necessities. As a result, they are left with more money in their hand after their purchases. She remarked, “The ‘Bachchat Utsav’ is being celebrated with great fervour.” Sitharaman also acknowledged the automotive sector’s efforts to pass on benefits even before the cuts were implemented on September 22 and expressed hope that citizens would fully take advantage of these reductions in GST.
Collaborative ministerial effort ensures compliance and awareness
She credited this achievement to all the ministers at the central and state levels who collaborated to support this proposal, ensuring that citizens benefit from it. Additionally, she highlighted that ministers from various states and the central government have been working on the ground, visiting markets to raise awareness and engage with traders and citizens.