Finance Minister Nirmala Sitharaman has applauded the GST overhaul as a “people’s reform,” emphasizing its widespread benefits across households.
The changes rationalize tax rates on nearly 400 goods, lowering costs of essential everyday items.
Reduced prices are expected to ease financial pressure on families and increase disposable income.
As spending power rises, consumer demand could get a timely boost—especially in the festive season
.
Economists foresee this reform acting like a direct stimulus for consumption-led growth.
Boosted consumer spending could, in turn, energize sectors like FMCG, retail, and services.
Ease of compliance and lower taxation can open budgetary space for both consumers and small
businesses.
The move could also help revive investor confidence in businesses focused on everyday goods.
Industry watchers see this as a move with both socio-economic and macroeconomic positive effects.
The reform’s success now hinges on seamless implementation and public awareness.