Lucknow (Uttar Pradesh) [India], September 4 (ANI): Uttar Pradesh Chief Minister Yogi Adityanath has welcomed the landmark decision on GST reform, expressing gratitude to Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman for their visionary leadership. He said the reform marks the beginning of a new chapter in India's tax system, according to a press statement.

'The Next Generation GST Reform, announced by the Prime Minister on Independence Day, is now becoming a reality. This is not merely a tax reform, but a decisive step towards positioning India as a leading global economy with a high growth trajectory,' the Chief Minister said.

Yogi Adityanath emphasized that the reform would infuse new strength into the spirit of Swadeshi and self-reliance, while boosting demand across key sectors such as automobiles, consumer durables, and construction, thereby generating lakhs of employment opportunities.

Under the new framework, GST will be simplified into two major slabs--5% and 18%. Essential commodities will remain under the 5% slab, while a limited category of luxury items will be taxed up to 40%. Food items, medicines, and educational material kept in the 0-5% category will ease household expenditure, enhance purchasing power for middle- and lower-income groups, and stimulate consumption.

The Chief Minister said the reform will not only simplify taxation but also give fresh momentum to India's growth story, helping the nation advance on the path of becoming a global economic powerhouse.

CM Yogi said, 'This reform will empower farmers, women, youth, MSMEs, and small traders alike. Provisions such as faster refunds and easier registration will provide strong support to small entrepreneurs and startups, further elevating the Ease of Doing Business in India.'

He added that resolving the inverted duty structure, addressing classification disputes, and ensuring a transparent tax regime will further strengthen business confidence. With the consensus of both the Centre and the States, this reform is not only comprehensive but also widely acceptable.

Highlighting the government's achievements, the Chief Minister noted that under the Prime Minister's leadership, wholesale inflation has been successfully brought down to below 2% in recent years. The new GST reforms will accelerate demand and consumption, thereby making the economy stronger, more stable, and more inclusive.

On behalf of the 25 crore people of Uttar Pradesh, Chief Minister Yogi Adityanath extended gratitude to Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman for this unprecedented and revolutionary decision. (ANI)