Finance Minister Nirmala Sitharaman on States' Revenue Fears And 'Next Generation' Tax Plan

Описание: The Finance Minister addresses states' concerns over potential revenue losses due to GST reforms. The discussion clarified that a proposal to increase the 5% slab to 6% was not considered. Acknowledging the fiscal impact on states, the minister stated that revenue buoyancy will return. The core objective of this "next generation reform" is to lower the tax burden on the public to foster economic growth. A key quote from the speaker summarises this goal: "The core objective is reduce the tax, bring the burden on the people down." The minister confirmed the compensation cess cannot continue and asserted that issues like centre-state fiscal health are outside the GST Council's remit. The reform was not timed to mitigate tariff impacts but is expected to provide a "great impetus to the economy." #gst #gstreform #financeminister #itwebvideos #indianeconomy #taxation #gstcouncil #revenue #statefinances #taxcuts #economicreform #indirecttax #federalism #compensationcess #easeofdoingbusiness #onenationonetax

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