New Delhi : Union Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal, and Electronics & IT Minister Ashwini Vaishnaw on Saturday hailed the recent GST rate rationalisation as a major driver of economic momentum during this year’s festive season.

The Union Ministers highlighted that the GST rate rationalisation reforms which came in impact on September 22 have led to increased consumer demand, price reductions, and a visible boost in key sectors such as automobiles, electronics, and FMCG, among others.

Goods and Services Tax (GST) is a comprehensive, multi-stage, destination-based tax levied on the supply of goods and services. It was introduced in India to simplify the tax structure by replacing multiple indirect taxes with a single, unified tax.

In a joint press confe

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