After announcing significant reforms in GST, Finance Minister Nirmala Sitharaman engaged in an exclusive interview with Aaj Tak this Friday. She addressed numerous questions about the GST rate cuts, emphasizing that the benefits will directly reach the public. If any company or institution fails to pass on these benefits to the people, they may face action.
Why are petrol and diesel not included in the GST framework? Answering this, Finance Minister Nirmala Sitharaman stated that the government is fully prepared to bring them under GST. However, it wasn't included in the initial GST proposal. She mentioned that even at the time of GST implementation, efforts were made to include petrol and diesel in this category, but the states weren't ready.
According to the Finance Minister, once the states are ready to agree on the rates, petrol and diesel can be included under GST. However, currently, there's no proposal to include them.
On the question of why the stock market isn’t rallying despite the GST reforms, Finance Minister Sitharaman explained that markets don't operate on a single factor. There are various reasons why they may not respond.
During this super exclusive interview with Aaj Tak on GST 2.0, the Finance Minister responded to questions and highlighted that the new reforms have made 99% of items cheaper. Efforts have been made to reduce the prices of food items as much as possible.
She stated that the government has strived for GST tax reform every year and identified areas where tax rate reductions could be made. In this round of reforms, it’s a tax cut for the people, not for the companies.
Finance Minister Nirmala Sitharaman addressed the opposition labeling GST as 'Gabbar Singh Tax', stating that today 91% of the tax is credited to the very GST that opposition parties support. During Indira Gandhi's era, the Congress party imposed 91% income tax and now takes credit for improving GST.
