Finance Minister Nirmala Sitharaman on Dhanteras said the impact of recent Goods and Services Tax (GST) rate reductions has been “remarkable,” with the benefits being effectively passed on to consumers across key product categories.

Speaking at a joint press conference with Commerce Minister Piyush Goyal and Electronics & IT Minister Ashwini Vaishnaw, Sitharaman said the government has been tracking 54 essential items to ensure that companies and retailers transfer tax savings to end-users. “For every item I have monitored that affects citizens’ daily lives, the weighted average of the reduction is being passed on — and in some cases, even more,” she said. Advertisement

The minister added that while a few products, such as high-end Portland cement, saw a smaller-than-expected pass-throu

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