New Delhi, Sep 22 (IANS) Traders and business owners on Monday welcomed the next generation GST reforms, saying the changes will increase purchasing power, lower prices of essential items and give a big push to the economy.

They also praised Prime Minister Narendra Modi for introducing the measures during the festive season.

S.K. Sarda, a branded clothing store owner, said that the new GST framework has simplified the system and corrected earlier problems of multiple taxes.

He pointed out that the government has already collected nearly Rs 55 lakh crore through GST, which is being used for national development and defence purposes.

“The new reforms will put more money in people’s hands. About Rs 2.5 lakh crore will flow into the market, and this amount will multiply three times as it r

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