"Poor, middle class will benefit most": MP CM Mohan Yadav on GST reforms

Ujjain (Madhya Pradesh) [India], September 4 (ANI): Madhya Pradesh Chief Minister Mohan Yadav on Thursday praised the Prime Minister Narendra Modi-led central government over GST reforms, saying it would benefit the poor and the middle-class people the most.
Speaking to ANI, CM Yadav said, "Under the leadership of Prime Minister Narendra Modi, the way India created its identity at the global stage is amazing, and the PM takes care of all the areas equally. In times of uncertainty, PM Modi ensures the interests of countrymen, industrialists, common man and health facilities."
The Chief Minister also emphasised that on Independence Day last month, the Prime Minister said that good facilities would be available in the days to come. Within less than a month, a meeting with the finance minister was held to discuss GST reforms, and their benefits were expected to be available from September 22.
"After GST reforms, the poor and middle class will benefit the most. GST on some food products and items, which are also exported, will now come under 0 % slab (down from 5 %). Similarly, study materials and belongings such as charts, globe, pencil, sharpener, copy, notebook, etc, which are necessary for students, are now brought to 0 % slab from 12 %. Additionally, agricultural equipment and materials such as tractor tyres and parts, biopesticides, micronutrients, drip irrigation systems, sprinklers and machines used in fields, etc, now fall under 5% (down from 18%)," the CM said.
He added, "This shows that PM Modi is concerned about protecting the interests of farmers...Health and life insurance premiums, earlier taxed at 18%, are now exempt and some medicines of serious diseases are also exempted...This is a big gift for the common man."
The CM further stated that it was a historic decision taken with consideration for all sections of society, adding that the state government would work promptly in all areas to benefit the public.
Finance Minister Nirmala Sitharaman announced a sweeping reduction in GST, aimed at providing relief to households, farmers, businesses and the healthcare sector.
The 56th GST council meeting decided to rationalise GST rates to two slabs of 5 per cent and 18 per cent by merging the 12 per cent and 28 per cent rates.
On the essential items front, items of daily household use will now cost less. Products such as hair oil, shampoo, toothpaste, toilet soap bars, toothbrushes, and shaving cream, which earlier attracted 18 per cent GST, will now fall under the 5 per cent bracket.
Sitharaman announced a complete removal of GST on individual health and life insurance.
Farmers and the agriculture sector stand to gain significantly from these reforms as tractor tyres and parts, earlier under 18 per cent GST, will now be taxed at just 5 per cent, while tractors themselves will also see their rate reduced from 12 per cent to 5 per cent. (ANI)