A BJP resolution, which commended Prime Minister Narendra Modi on the GST rate cut, on Sunday asked manufacturers and traders to ensure that the benefits are passed on to consumers.
This is the Modi government's call for fairness, for growth and for every family in India to feel the benefit, it said.
"It is a call for an aatmanirbhar Bharat," the resolution said, exhorting the businesses to ensure that prices are lowered as a result of the reduction in the Goods and Services Tax (GST) to bring relief to the consumer, "turning reforms into ease of living, greater demand and a more prosperous economy".
The resolution, which was proposed by Commerce and Industry Minister Piyush Goyal and passed by BJP MPs at their workshop here, said lower prices will fuel higher demand which will boost prosperity for businesses and "prosperity will reinforce the strength of the nation".
It said, "By passing on every saving and every relief, we honour the prime minister's vision while strengthening the trust between shopkeeper and customer, trader and citizen."
It added, "Therefore, this resolution calls upon manufacturers and traders, big and small, to take pride in ensuring that reductions and rebates flow directly to the consumer. By passing on every saving and every relief, we honour the Prime Minister's vision while strengthening the trust between shopkeeper and customer, trader and citizen."
It called for ensuring that the GST reforms under Modi are remembered as a triumph of governance and a promise kept to the people of India.
It said, "These far-reaching changes embody our unity, fairness and shared growth. Now it is the duty of every trader to pass on each rupee of relief to the consumer, turning reforms into ease of living, greater demand and a more prosperous economy."
The resolution, which was adopted unanimously, said BJP MPs heartily congratulate Modi for this bold and citizen-friendly move and conveyed the gratitude of the people.
Eight years ago, India embraced the Goods and Services Tax, fulfilling the vision of "One Nation, One Tax." What once was a cumbersome tax regime of VAT and multiple taxes is now replaced by a unified market that has brought fairness, simplicity and strength to the Indian economy, it said.
Earlier governments failed to bring the GST, but Modi rolled it out with consensus from across the country, it said.
"In just eight years, the GST taxpayer base has more than doubled from Rs 66 lakh in 2017 to over 1.5 crore today, and annual collections have surged to more than Rs 22 lakh crore in FY 2024-25, growing at a CAGR of over 18 per cent.
"GST collections have now reached close to Rs 2 lakh crore a month, much higher than when this historic reform was implemented," it said.
The next phase of reforms has further simplified the system and placed the citizen at its heart, the resolution said, adding that the rates on essentials like food and medicines as well as prices of electronic goods have been significantly reduced.
Distortions such as inverted duties are being corrected and procedures for small businesses, exporters and startups are being streamlined, it said.
Source Name : Economic Times