Mumbai: Maharashtra Chief Minister Devendra Fadnavis on Thursday lauded Prime Minister Narendra Modi for the comprehensive GST rate rationalisation, saying the move will significantly ease the financial burden on citizens and invigorate economic activity. The GST Council approved major changes to the indirect tax framework, reducing multiple slabs to just 5 per cent and 18 per cent, effective from September 22, coinciding with the start of Navratri.
Highlighting Maharashtra’s key role, Fadnavis stated that the state has consistently led in GST collections, contributing the largest share to the national pool. He described the reforms as second-generation changes that provide relief to citizens while ensuring sustainable revenue growth.
“It is due to PM Modi’s farsighted vision. These reforms are very important, as some slabs have been removed and the common citizen’s tax burden has been reduced,” Fadnavis said, underlining the potential of the new tax structure to stimulate demand, production, trade, and employment generation.
The Chief Minister credited the Modi government for implementing transformative reforms in indirect taxation and reiterated Maharashtra’s full support for the GST rationalisation. “PM Modi has brought about transformative reforms. Maharashtra supports GST rationalisation as it will strengthen both businesses and consumers,” he added.
Experts noted that the simplified tax structure is likely to improve compliance and create a more business-friendly environment. With fewer slabs and a leaner GST framework, stronger consumer sentiment is expected during the festive season.
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