Jagan Hails GST 2.0 As Revolutionary Step, Says Will Give Impetus To Investment

(MENAFN- IANS) Amaravati, Sep 22 (IANS) Former Andhra Pradesh Chief Minister and YSR Congress Party president Y. S. Jagan Mohan Reddy on Monday termed Goods and Services Tax (GST) restructuring a revolutionary step towards a simpler and fairer tax system.

On the day when GST 2.0 came into implementation, he took to X to welcome the reforms.

“The GST restructuring is a revolutionary step towards a simpler, fairer tax system. It is a commendable move to make goods & services more simpler and affordable to every citizen,” he said.

“Here and there, there might be a few glitches with a few complaints but it's a process and I am hopeful that the benefits would get passed on to the end consumers. This will surely give the necessary impetus to consumption and investment in the economy,” he said.

YSR Congress, which is the main opposition party in Andhra Pradesh, has joined ruling Telugu Desam Party (TDP) and its alliance partners Jana Sena and Bharatiya Janata Party in welcoming the next-generation GST reforms.

Chief Minister N. Chandrababu Naidu on Sunday congratulated Prime Minister Narendra Modi on the 'visionary' launch of the next-generation GST reforms and the commencement of the GST Bachat Utsav, saying the celebration truly puts the citizen at the centre of governance.

Earlier in the day, Andhra Pradesh Chief Minister Chandrababu Naidu extended 'heartfelt gratitude' to the Prime Minister for this 'bold and visionary' reform on behalf of the people.

“Coinciding with the festive season, the Next Gen GST truly marks a double celebration for the people, who will directly benefit from lower prices, simplified taxes, and a stronger, more inclusive economy,” CM Naidu posted on X after Prime Minister's address to the nation ahead of the rollout of GST 2.0.

“The number of tax slabs has been reduced to just two: 5% and 18%. Nearly 99% of essential items now fall under the lower 5% slab. This reform will make daily life more affordable for our citizens, especially the middle class, poor, farmers, women, and youth,” he said, adding that the simpler tax system will lower costs, help businesses grow, and attract more investment.

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