PM Modi Announces GST Relief: ACs, TVs, Washing Machines & Groceries May Get Cheaper

New Delhi (The Uttam Hindu) : The countrymen can get a big gift on Diwali. PM Narendra Modi has given indications of this gift and the GST reform can provide great relief to the public. If the proposal in this regard gets approved in the GST Council meeting, then 99 percent of the goods included in the current 12 percent tax slab will come under the 5 percent tax slab. Similarly, about 90 percent of the goods and services which are currently under the 28 percent tax bracket will be shifted to the 18 percent tax rate under the new system. The goods which are likely to get cheaper include cement, small cars, air conditioners and many kinds of FMCG products.

Groceries, medicines, TVs and even washing machines can become cheaper. Not only this, the cost of farming equipment, bicycles and even services like insurance and education will also decrease. In simple words, the burden on the pockets of householders and farmers will be reduced, and consumption is expected to increase across the country.