Hindustan varta.
The Modi Government has once again reaffirmed its unwavering commitment towards industry and trade.
In its very first term, the Government took the historic decision of implementing GST - a reform that abolished multiple taxes and created a one-nation-one-tax system. Despite several challenges, this seemingly impossible task was successfully implemented, fulfilling the aspirations of the people and propelling India’s Ease of Doing Business rankings to new heights.
Industry too,stood shoulder-to-shoulder with the Government, contributing to record-breaking GST collections.
Now, even before GST has completed a decade, the Government has taken another monumental step-reducing GST on essential consumer goods to the minimum slab of 5%. In a historic relief for the footwear industry, shoes priced up to ₹2,500 will now attract only 5% GST, directly benefitting nearly 98% of consumers.
This reform will not only accelerate the Indian economy but also mark a giant leap towards an Atmanirbhar Bharat.
India will no longer be solely dependent on exports; instead, the domestic consumption base will power growth.
The Government has shown its commitment to
the people -now it is the responsibility of entrepreneurs to ensure that this benefit is directly passed on to consumers.
Every entrepreneur must pledge to end grey market practices and move towards fair, transparent trade.
The 5% GST rate has secured the industry, enabling entrepreneurs to dream not just of one shop but of expanding to hundreds of outlets.
✍️ Puran Dawar
Chairman
Council for Leather Exports
Government of India
