CAIT Calls it a Historic Milestone Under PM Modi’s Leadership
By | Arvind Jadhav
New Delhi: The Confederation of All India Traders (CAIT) has hailed Prime Minister Narendra Modi’s leadership as the country prepares for the rollout of the next generation of GST reforms from tomorrow. According to CAIT, these reforms are among the most revolutionary tax transformations in independent India, aimed at empowering small traders, enhancing consumer confidence, and propelling the economy towards the $10 trillion mark.
CAIT National Secretary General Praveen Khandelwal announced that nearly 400 items have been shifted from the 12 percent and 18 percent GST slabs to the 5 percent slab, while the 28 percent slab has been abolished with most items now falling under the 18 percent category. This landmark decision, he said, is expected to reduce prices by 15 to 20 percent, directly benefiting consumers. The price drop will not only ease household expenses but also boost overall consumption, which in turn will significantly increase trade across the country. He further added that CAIT has instructed trade associations nationwide to ensure that the benefits of these reforms are fully passed on to consumers.
Explaining the reforms, Khandelwal noted that filing of returns and compliance will now become simpler, faster, and hassle-free. He stressed that the rationalisation of tax slabs will bring direct relief to both traders and citizens. The adoption of technology-driven systems is expected to reduce corruption, improve transparency, and strengthen trust in the taxation process. With micro, small and medium enterprises, startups, and small shopkeepers being the biggest beneficiaries, these reforms are seen as a strong step forward in fulfilling the vision of Atmanirbhar Bharat.
Khandelwal described Prime Minister Modi as the architect of New India’s economic revolution, stating that the next generation GST reforms will be remembered as a milestone in the country’s growth story. He said that traders across the country welcome the reforms as a festival of economic freedom. These measures, he concluded, are not merely administrative changes but a historic gift for 140 crore Indians that will make doing business easier, reduce prices, strengthen the economy, and move India closer to becoming the world’s third-largest economy.
