Agartala, Oct 8 Tripura Chief Minister Manik Saha said on Wednesday that the new GST reforms have opened a new horizon to improve the quality of life of common citizens.
He said that the economic condition of both the country and the state is becoming stronger through the GST system, and the amount of revenue collection has also improved due to the GST reforms.
While addressing a workshop on the ‘Benefits of the Next Generation’ in Agartala, the Chief Minister said that after India gained independence, Prime Minister Narendra Modi successfully implemented the concept of ‘One Nation, One Tax’, which no one could have imagined before.
“We had seen different types of taxes earlier, such as Excise Duty, Customs Duty, Service Tax, Value Added Tax, Central State Tax, Luxury Tax, Entertainment Tax, etc. In place of all these, the Prime Minister has shown the right direction to the people of the country. Under his guidance, GST has been introduced across the nation, and the development of the country is accelerating through this tax reform. With the introduction of this tax system, the country's economy has moved from the 11th position to the 4th position,” he said.
Saha highlighted that the present goal is to build Viksit Bharat 2047. He said that for this purpose, Tripura has also prepared a roadmap for Viksit Bharat 2047.
“Earlier, there were five stages in the GST structure. Now, it has been simplified to two slabs — 5 per cent and 18 per cent. This has benefited the common people greatly. GST is a people-friendly decision made keeping the welfare of the common man in mind. Under this system, people can save at least 4 per cent on their monthly expenses,” the Chief Minister asserted.
He further explained that earlier, goods vehicles had to stop at various toll or naka points along national highways, but now they can reach their destinations directly.
“Previously, nakas were known as points of corruption. Now, due to the removal of these stops, the time taken by goods vehicles to reach their destination has been reduced by 33 per cent. This has also led to significant savings in fuel costs. Along with this, the economic condition of the country and the state is getting much stronger through this system,” Saha added.
Informing that the amount of revenue collected through GST reforms has improved greatly, the Chief Minister said that under the new GST reforms, essential items such as milk, chickpeas, and bread have been made tax-free.
He said that various household products, including soap, shampoo, toothpaste, and bicycles, now attract only 5 per cent tax.
Similarly, items such as salt, sauce, pasta, noodles, chocolate, butter, and ghee have been reduced from 12 per cent or 18 per cent to 5 per cent, he mentioned.
Saha said that this has provided major relief to common and middle-class families.
Additionally, life insurance and health insurance have also been made GST-free. Due to the reduction in GST, life-saving medicines, medical equipment, diagnostic kits, and medical devices are now taxed at either zero or 5 per cent.
“Moreover, farmers’ tractors and rice harvesters will now come under only 5 per cent tax. The tax on cement purchases has been reduced from 28 per cent to 18 per cent, which will help save money in building construction,” he said.
Finance Minister Pranajit Singha Roy, Finance Secretary Apurba Roy, and other senior officials were present at the event.
--IANS
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