The BJP leader hailed the GST reforms and highlighted the government's decision to provide relief on medicines and essential goods. He said the reforms would strengthen India's economy.
From real estate and electric mobility to corporate transportation and tax advisory services, the impact of these changes is expected to be wide-ranging.
Hyundai Motor India (HMIL) vowed on Sunday that it will pass on the complete benefit of the recent GST rate reduction on passenger vehicles to its customers right from Day 1, i.e. September 22, the date the revised GST rates come into effect.
India has significantly expanded its addressable market for digital services, and it is estimated that the digital economy will contribute around 20 per cent of the nation's overall economy, said Julian Gorman, Head Asia Pacific, GSMA.
The rating agency stated that the reductions in the Goods and Services (GST) will have a positive impact on consumption, which accounts for 15 per cent of the revenue of corporates.
Speaking to the reporters, the Union Minister said, "'Sundays on Cycle' was organised today to take forward the Prime Minister Narendra Modi's mantra for 'Swadeshi' and 'Fit India' in more than 8,000 places. We saw all the sports goods made by the Swadeshi brands at the Dhyan Chand Stadium..
Union Minister of Youth Affairs and Sports Mansukh Mandaviya on Sunday emphasised Prime Minister Narendra Modi's Swadeshi mantra, which encouraged the use of domestic products. Notably, the GST on bicycles was reduced from 18% to 5% to promote cycling.
The reduction in GST rates is forecast to drive a 200 basis points (bps) upshift in two-wheeler demand and a 100 bps increase for PVs, the report added.
Chouhan said that GST on bio-pesticides and micro-nutrients has been reduced, which will benefit farmers. Additionally, the trend of farmers shifting towards bio-fertilisers will likely increase. In the dairy sector, there will now be no GST on milk and cheese. This will not only benefit the
R.C. Meena, Principal Secretary of the Ports and Transport Department, Government of Gujarat, stated that GSRTC transports over 27 lakh passengers safely across the state each day.
The recently announced next-generation Goods and Services Tax (GST) reforms will significantly benefit India's agriculture sector, particularly the rice industry, Indian Rice Exporters Federation's Vice President, Dev Garg, said.
A division bench of Chief Justice GS Sandhawalia and Justice Ranjan Sharma is examining whether the March 28 order granting Saxena an extension was in violation of Central Service Rules and Department of Personnel & Training (DoPT) guidelines.