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Raipur, Oct 15 (IANS) The impact of the recently implemented Goods and Services Tax (GST) reforms is becoming increasingly visible on the ground, with lower tax rates encouraging consumers to spend more, especially during the festive season.
During the festive shopping season, customers across the country feel the difference in prices of essential products.
Residents of Chhattisgarh’s Surajpur told IANS that many household products have become more affordable due to the reduced GST. “After the new GST rates were implemented, I decided to buy a refrigerator. Because of the lower tax, I got a discount of around Rs 2,000, which I used to buy a new mixer,” said a resident.
He described the move as a “very good decision by the (PM Narendra) Modi government” and said it was benefiting the general public in a big way.
Another resident said lower GST has helped families make larger purchases within a single budget. “We just bought a scooter and saved a lot of money. With Diwali approaching, the lower tax is allowing us to shop more freely,” he said.
Local traders also confirm the increase in demand.
A shopkeeper from Surajpur said that after the GST cut, electronic goods have become cheaper by 10 percent. “Prices have come down and customers are buying more. Sales are continuously improving,” the shopkeeper said.
Earlier, positive consumer sentiment was reflected in India’s macroeconomic outlook. The International Monetary Fund (IMF), in its latest ‘World Economic Outlook’, revised India’s GDP growth forecast for fiscal year 2025-26 to 6.6 percent from 6.4 percent earlier.
The IMF attributed the increase to the government’s comprehensive GST reforms, reduction in tax rates on goods and services and better-than-expected performance of the economy in the first quarter.
Economists believe India’s growth momentum is likely to remain strong during the rest of the fiscal year, with increased festive spending and strong consumer demand.
–IANS
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