Will This Diwali Be Happier for Common People? Gujarat Traders and Locals Applaud GST 2.0 Reforms

Gandhinagar, Sep 4 (NationPress) A wave of enthusiasm has swept across Gujarat as traders and residents have heartily embraced the transformative reforms introduced under GST 2.0. Following the GST Council's approval of a significant overhaul of the Goods and Services Tax framework, citizens are optimistic that this Diwali will be more radiant and budget-friendly for the average individual.

IANS reached out to traders in Gandhinagar, who commended the government for these reforms.

Vijay, an entrepreneur in the FMCG sector, expressed his excitement: “Over 90 percent of the population will reap the benefits from this. It will enhance purchasing power and greatly assist the common people. This is a remarkable initiative.”

Dilip, another trader, shared his gratitude: “I extend my thanks to the Modi administration. This initiative comes at an ideal time—right before Diwali. It’s a double blessing for everyone. Consumers will gain, and this will indeed be a joyous Diwali.”

Addressing concerns regarding the textile industry in Surat not yet receiving relief, BJP leader Rishikesh Patel reassured that all proposals are actively being evaluated.

“Whenever reforms are enacted, every aspect is meticulously reviewed,” he stated.

Patel commended Prime Minister Narendra Modi and the NDA government for their strong leadership.

He emphasized that these reforms are part of a comprehensive economic strategy that includes income tax relief, support for the agriculture sector, and substantial GST exemptions on essential medicines.

“These measures, which have garnered support from all states, aim to invigorate the economy and alleviate the financial burden on the public,” he added.

In Jamanagar, traders celebrated the reductions in GST rates, particularly for essential and electronic goods. With these adjustments, prices are anticipated to decline, making daily items more affordable for consumers.

Local traders in Jamnagar expressed their support for the reforms, stating that this is a much-needed boost to rejuvenate the market. “Prices will decrease, and the common man will greatly benefit,” remarked Sureshbhai Tanna, a local trader.

Vijay Bhai, a resident, added, “This will enhance purchasing power and provide much-needed relief. I appreciate PM Modi for this positive action.”

In Surat, while some traders are eager for more specific changes in GST rates for the textile sector, the majority agree that the reform is a step in the right direction.

“This reform will lessen the financial strain on individuals. It feels like Diwali has arrived early this year,” stated Kailash Hakim, a local businessman.

People are hopeful that reduced prices will spur increased shopping, thereby boosting sales and benefiting both small and large enterprises. Traders anticipate that the positive impacts of these reforms will significantly enhance economic activity leading up to the festive season.

As the GST Council endorsed historic modifications to India's indirect tax structure, numerous daily-use items will see price drops starting September 22.

The newly adopted tax structure includes two primary slabs of 5 percent and 18 percent, alongside a substantial 40 percent for luxury and sin goods.

For the average individual, this change translates to more disposable income, which the government hopes will be funneled back into the economy, providing a considerable boost.

A wide array of goods and services, ranging from groceries and fertilizers to footwear and renewable energy, are set to become more affordable. Items previously taxed at 12 percent and 28 percent will largely transition to the newly defined slabs, thus making a broad spectrum of products cheaper.