The next-generation Goods and Service Tax (GST) reforms unveiled late September have brought about the desired price reductions for essential items and goods consumed by the middle-class in the ongoing festive season, laying the foundation for sustained consumption and investment growth, Finance Minister Nirmala Sitharaman said on Saturday.

“GST rate reductions have increased purchases. We are convinced that on every such item (where the tax has been reduced) , benefits are being passed on by companies,” Sitharaman said. In the case of some items like air conditioners, television sets, and toys, businesses have even passed on to consumers benefits higher than weighted-average GST cuts, the minister said.

“It (GST reform) is something which is going to benefit every consumer on a da

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