Andhra Pradesh Chief Minister N. Chandrababu Naidu unveiled a comprehensive booklet detailing the revised Goods and Services Tax (GST) rates, released in Telugu, during an event at his camp office on Sunday.
Speaking at the launch, Mr. Naidu emphasized that “GST 2.0” represents a “people-first” approach. This revised policy aims to significantly cut down expenses and streamline administrative processes, ultimately empowering citizens. He highlighted that these new GST reforms, effective from midnight on September 21, are poised to fortify India’s economic landscape.
These anticipated changes are expected to deliver a massive benefit of almost ₹2 lakh crore to the public through substantial reductions in GST rates. Specifically for the residents of Andhra Pradesh, these reforms are projected to translate into a benefit of approximately ₹8,000 crore.
The Chief Minister further elaborated that the reduction in GST on numerous essential commodities would be a major advantage for the middle class, farmers, and artisans. This decrease in GST rates is set to enhance purchasing power, stimulate consumer spending, and consequently bolster the overall economy.
Chief Commissioner of State Taxes, Babu A., along with other senior officials, were in attendance at the event.