Union Minister Piyush Goyal announced significant reductions in GST rates, aiming to boost the economy and provide relief to consumers. Highlighting the move, Goyal stated that GST on health and life insurance has been cut from 18% to zero. Furthermore, taxes on 35-36 life-saving drugs have been eliminated, with reductions on other medicines and medical devices. The rate cuts extend to numerous daily-use items, including soap, toothpaste, clothing, electronics, and vehicles. Goyal contrasted these actions with the previous Congress-led UPA government, which he said failed to implement a unified tax structure. He asserted that this initiative will spur a “cycle of growth,” boosting demand, which in turn will attract investment and create new jobs, contributing to the goal of a developed India, or ‘Viksit Bharat’, by 2047. #gstratecut #gst #piyushgoyal #itwebvideos #indianeconomy #taxreform #gstcouncil #consumerrelief #modigovt #economicgrowth #viksitbharat #businessnews #finance #navratri #diwali #insurance
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