GST Cut Benefits Reaching Consumers, Price Drop Bigger Than Expected: Nirmala Sitharaman

FM Nirmala Sitharaman on Saturday said GST cut benefits are reaching end consumers, and some items have seen more-than-expected price drops. She added that the government is closely monitoring the prices of 54 products to ensure the benefits of the revised tax structure reach the common man.

“More than expected tax reduction has happened and consumers have ended up getting benefits that were expected and some more than that," said Finance Minister Nirmala Sitharaman during a GST Bachat Utsav Press Conference, held along with Commerce Minister Piyush Goyal and Information & Broadcasting Minister Ashwini Vaishnaw, on the auspicious day of Dhanteras on October 18.

In some cases, businesses passed on higher than expected GST rate cuts to consumers, the finance minister said.

“It was launche