Confederation of Indian Industry - Andhra Pradesh (CII - AP) Chairman Murali Krishna Gannamani has praised Union Finance Minister Nirmala Sitharaman for ushering in the next-generation GST reforms, calling them timely changes that reflect the government’s commitment to foster a business-friendly environment.
In a press release, Mr. Murali Krishna said the landmark decisions taken at the 56th meeting of the GST Council marked a decisive step towards simplification, affordability, and economic momentum.
The sweeping reduction of GST rates on essential goods such as dairy products, medicines, and everyday household items, along with reforms in processes and institutional strengthening, would directly benefit the consumers, the aspirational middle class, and the industry alike, he observed.
For businesses, especially in the manufacturing and infrastructure sectors, lower tax incidence and correction of duty distortions would improve project viability and margins. By reducing the cost of capital goods and inputs, the reforms would create an enabling environment for private investment, aligning with the government’s larger objective of crowding in private capital to sustain India’s growth trajectory, he said.
