Three Union Ministers present GST 2.0 report card

Three Union Ministers- Finance , Commerce and IT on Saturday claimed that Income Tax relief and GST reforms have sparked a festive spirit across the nation this year.  Addressing a joint press conference in New Delhi, Nirmala Sitharaman said tax benefits due to the recent GST rate cuts were passed on to the common man. Sitharaman underscored that the rate reduction resulted in bumper sales of vehicles and electronics. "The government was closely monitoring 54 daily use items. We found that in every one of them, the tax benefit due to the GST reforms has been passed to the end consumer. The Prime Minister's Diwali gift has been delivered," Sitharaman said

We have been closely monitoring 54 items where we want to ensure reduction in prices, and tax benefit being passed on to the end consumer.

From 12-5% and 28-18% rate reduction has happened on most of the goods.

Union Finance Minister @nsitharaman #GSTBachatUtsav… pic.twitter.com/xaFqsZyygU

— PIB India (@PIB_India) October 18, 2025

Piyush Goyal stated that vehicle sales surged during Navratri, Goyal said, this is one of the most transformative reforms since Independence, delivering a massive relief of Rs2.5 lakh crore. Its multiplier effect is clearly visible in the surge in consumer spending, along with a rise in investment, business activity, industry, and infrastructure. 

Prime Minister @narendramodi and Finance Minister @nsitharaman have brought the blessings of Goddess Lakshmi into every home. Whether it’s the rich, the middle class, or farmers, 2025 is shaping up to be a memorable year for all

The major income tax relief announced on February… pic.twitter.com/RaQKP5If19

— PIB India (@PIB_India) October 18, 2025

According to Ashwini Vaishnaw, Electronics has witnessed record sales this Navratri, with a significant increase of 20 to 25 percent over the previous season. The electronic manufacturing is now growing at a double-digit compound annual growth rate. India has also overtaken its neighbour in smartphone exports to the United States, and the country’s second semiconductor plant has officially commenced production. He further said that the GST Reforms have led to a decline in food prices, providing a substantial boost to consumer spending. As a result, overall consumption is expected to grow by more than 10 percent this year, translating to an increase of nearly Rs20 lakh crore. 

Electronics has witnessed record sales this Navratri, with a significant increase of 20 to 25 percent over the previous season. The electronic manufacturing is now growing at a double-digit compound annual growth rate. India has also overtaken its neighbour in smartphone exports… pic.twitter.com/pAYMH3JeKW

— PIB India (@PIB_India) October 18, 2025

As per information, doubling of sales of ACs reported on the very first day, i.e., 22nd September. 30% - 35% increase in TV sales reported by a major TV manufacturer, on Day 1 and Sales of FMCG sector too have gone up.