October 19, 2025

Hold on tight! Finance Minister Nirmala Sitharaman brought some spicy news on Saturday at the ‘GST Bachat Utsav’ press meet. She revealed that the GST rate cuts from September 22 have truly set the market on fire by boosting consumer purchases. Not just a short burst, she confidently said, “The consumption drive will continue… We are convinced that on every such item, benefits are being passed on by companies.” The GST Bachat Utsav, a lively 100-day government campaign launched by Prime Minister Narendra Modi last month, aims to make sure shoppers pocket the benefits of lower tax rates. Since the cuts kicked in, the government has kept a hawk’s eye on price drops for 54 items. And the results? Sizzling! Some businesses have gone above and beyond, passing on even bigger savings than the average GST cut. Sectors like automobiles and consumer durables are revving up. Sitharaman shared dazzling figures: “Three-wheeler dispatches rose 5.5% on-year, while two-wheeler sales reached 21.6 lakh units. Passenger vehicle dispatches alone stood at 3.72 lakh in September,” she said, highlighting Hero Motors, which recorded its best-ever monthly sales last month. The numbers don’t stop there. On day one after GST reforms, air conditioner sales doubled! TV sales jumped up by 30-35%, turning living rooms into mini theaters faster than ever. Some price drops even surpassed expectations. Shampoo prices dipped 12.36%, beating the targeted 11.02% cut. Prices for everyday household items made of iron, steel, and copper tumbled 10.24%—much more than the expected 6.25% dip. Sitharaman made it clear this is no accident or correction but a powerful example of teamwork between the central government and the GST Council. She said, “What we are doing today is not a correction, but a conscious decision — a reflection of cooperation between the central government and the GST Council to pass on greater benefits to the people.” Joining the chorus, Commerce Minister Piyush Goyal emphasized the move’s big impact on the Indian economy. He said, “Indirect tax directly impacts 140 crore Indians, and now a benefit of Rs 2.5 lakh crore has been given via GST cuts. The multiplier effect due to tax cuts has already given a boost to the economy.” Even the IMF has noticed, upgrading India’s growth forecast after this smart boost. So folks, thanks to smart GST cuts and a government pushing for consumer happiness, the market is buzzing with energy. From your wheels to your ACs and TVs, savings are pouring in, showing that this festive season, the party is just getting started!

Read More at Economictimes →

Tags: Gst rate cut, Nirmala sitharaman, Consumption boost, Indian economy, Piyush goyal, Gst bachat utsav,