IMPHAL: Stating that the country needs bold reforms to compete globally, Rajya Sabha MP Leishemba Sanajaoba said that the Next Generation GST Reform will give a strong push to India’s journey towards becoming a developed nation.
Speaking at a gathering held at Thambal Shanglen, Imphal, Sanajaoba highlighted that the new GST reform aims to replace the existing four-tier structure with a two-tier structure. This, he said, would remove complexities, especially for the 375 categories of goods and services that are currently taxed under multiple slabs.
He stressed that the reform will benefit farmers, the MSME sector, the middle class, and the general population, as it will lower tax burdens. Lower costs will, in turn, boost consumer demand, stimulate production, and ultimately contribute to strengthening the nation’s economy.
Sanajaoba added that the new GST framework, set to be introduced ahead of Diwali and the festive season, will be a significant gift to the people of the country. He also informed that Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman have been briefed about the proposal.
Separately, attending the RIMS foundation day celebrations, Sanajaoba remarked that the institute’s activities should be reviewed thoroughly, and that for smooth functioning in future, powers should be streamlined under the Governor’s authority.
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