Lower GST Rates Coming Soon? FM Nirmala Sitharaman Hints At Changes|Economy News

New Delhi: Finance Minister Nirmala Sitharaman revealed on Saturday that GST prices will certainly be minimized better, with the tax obligation rationalisation procedure currently in its lasts. She highlighted that the Revenue Neutral Rate (RNR) has actually currently reduced considerably– from 15.8 percent in 2017 to 11.4 percent in 2023– and is anticipated to go down much more in the future.

GST Council’s Efforts To Streamline Tax Rates

To streamline the GST framework, the GST Council created a Group of Ministers (GoM) in 2021. This team, containing financing preachers from 6 states, was entrusted with evaluating tax obligation prices and pieces. At The Economic Times Awards, Sitharaman was asked whether it was time to rationalize GST prices. She verified that the procedure is nearly total.

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Watch Live:Smt @nsitharaman‘s fire-side conversation at The Economic Times Awards for Corporate Excellence (@ETAwards) in Mumbai, Maharashtra.#ETAwards #25YearsofETAwards @DeloitteIndia @EconomicTimes https://t.co/75p1ocpp0g .– Nirmala Sitharaman Office (@nsitharamanoffc) March 8, 2025

Final Review Before Implementation

“The GoM has done excellent work, but I want to review their recommendations once more before presenting them to the Council for a final decision,” she claimed.
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She better included that while some improvements are required, the Council is really near to settling essential adjustments such as price decreases, rationalisation, and piece changes.

Stock Market Volatility: A Global Concern

When doubted regarding the changes in the securities market, Sitharaman indicated international unpredictabilities. “It’s like asking if the world will be calm—will wars end, will the Red Sea be safer, will there be no sea pirates? These are unpredictable factors,” she claimed, highlighting the effect of geopolitical stress on monetary markets. .
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Government Encouraging More Retail Investors In Public Sector Banks

Addressing worries regarding public field financial institutions, FM Sitharaman declared the federal government’s dedication to raising public float and urging even more retail financiers to join these financial institutions. .
.(* )she mentioned, highlighting the federal government’s initiatives to make these organizations extra easily accessible to the general public. (

“We want to have more retail investors in public sector banks,” PTI With)Inputs