Bhubaneswar, Sept 4: Odisha Chief Minister Mohan Charan Majhi on Thursday extended heartfelt gratitude to Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman for introducing the landmark Next-Generation Goods and Services Tax (GST) reforms.
These reforms, which have been hailed as a transformative step forward for the nation’s economic landscape, are expected to bring significant improvements in various sectors, particularly in boosting micro, small, and medium enterprises (MSMEs) and creating new employment opportunities.
Taking to his official ‘X’ handle, CM Majhi praised the initiative as a testament to a people-centric government focused on the welfare of all sections of society.
“Odisha extends heartfelt gratitude to Hon’ble Prime Minister Shri @narendramodi Ji and Union Finance Minister Smt. @nsitharaman Ji for ushering in the historic Next-Generation GST reforms. These reforms mark a transformative milestone for the nation, empowering MSMEs, creating jobs, boosting consumption, and, most importantly, enhancing the financial capacity of our people. This is a true testament to a people-centric Government committed to the welfare of every section of society,” read the Chief Minister’s post.
The GST reforms are expected to provide relief across various sectors, including daily essentials, healthcare, farming, education, automobiles, and appliances, ultimately benefiting the people of Odisha.
Notably, the Next-Generation Goods and Services Tax (GST) reforms simplify the tax structure by reducing the number of slabs from four to two: 5% for essential goods and 18% for most other items. Luxury and "sin" goods will be taxed at a higher rate of 40%.
Set to take effect on September 22, 2025, these changes aim to lower the cost of a wide range of consumer products, including automobiles, electronics, and insurance, making these items more affordable for the general public. The reforms are expected to bring significant relief to consumers and boost overall economic activity.
