- Finance Minister Nirmala Sitharaman announced a reduction in GST rates to 5% and 18% from four slabs
- Social media reactions included political commentary, humour, and calls for monitoring price benefits
- Industry leaders like Anand Mahindra supported reforms, linking them to economic growth potential
Finance Minister Nirmala Sitharaman's announcement of a reduction in Goods and Services Tax (GST) rates on Wednesday has set off a flurry of responses online. The reactions on social media ranged from political comments to memes and demands for improved tracking.
The GST Council cleared simplified two-tier GST rates of 5% and 18%, replacing four slabs. FM Sitharaman said the changes would relieve the burden on households, with common and essential-use goods seeing reductions. The new rates will be implemented from Sept. 22, during Navratri.
On social media, the users were quick to put the move into political perspective.
A user commented, “Brilliant move! It will give much-needed relief to end consumers, provided GST reduction benefits are passed onto end consumers and companies shouldn't increase the prices of these items.”
Brilliant move! It will give much needed relief to end consumers provided GST reduction benefits is passed onto end consumers and companies shouldn't increase the prices of these items. It will increase consumption and boost the economy. #GSTCouncilMeeting #GSTReform @PMOIndia https://t.co/HwJJYkYZzI
Others echoed similar sentiment, with one user commenting, “There's no point in reducing the GST if companies don't pass on the discounts to end users.”
There's no point in reducing the GST if companies don't pass on the discounts to end users. #GSTReform
Others opted for humour. One user shared an old video of cricketer Virat Kohli dancing at an event and captioned it, “Me and my gang after new GST reforms.”
Me and my gang after New GST Reforms.#GSTReforms #GSTCouncilMeeting pic.twitter.com/89Dyf2IyBC
Another user gave a new meaning to the acronym GST calling it “Garib Saves Tax”.
#GST now stands for Garib Saves Tax .
Thank you Hon'ble @PMOIndia Sj @narendramodi ji & @FinMinIndia Madam @nsitharaman ji. pic.twitter.com/sUpfjbYTpXAnother meme showed a man outside a cigarette shop trying to figure out if a Rs 20 cigarette now comes with a GST discount.
बताना कितने की आ जाएगी "New GST" के हिसाब ?#GSTCouncilMeeting pic.twitter.com/KOtVuUGSQV
Some users reflected on the continued taxation of so-called “sin” goods. One wrote, “Reminds me of that old Yes Prime Minister episode where Sir Humphrey explains why taxing cigarettes is essential to pay for the salaries of the Health Ministry.”
Reminds me of that old Yes Prime Minister episode where Sir Humphrey explains why taxing cigarettes is essential to pay for the salaries of the Health Ministry 😂 @RatanSharda55 #SinTax #GSTReform
There was also a measure of scepticism about whether consumers would actually benefit.
A user thanked the finance minister but asked, “However, do you have any mechanism to monitor benefits transfer to real customers. Will you monitor the cost of benefitted products? For me, this is important.”
Thanks a lot @nsitharaman mam for #GSTReform.
However, do you have any mechanism to monitor benefits transfer to real customers. Will you monitor the cost of benefitted products? For me this is important...@FinMinIndia @PMOIndia
I had planned to buy a mobile but news on it.Industry voices also weighed in. Industrialist Anand Mahindra welcomed the reforms, linking them to wider economic potential. He wrote, “We have now joined the battle…More and faster reforms are the surest way to unleash consumption and investment. Those, in turn, will expand the economy and amplify India's voice in the world. But let's remember the famous exhortation of Swami Vivekananda: ‘Arise, awake, and stop not till the goal is reached.'”
We have now joined the battle…
More and faster reforms are the surest way to unleash consumption and investment.
Those, in turn, will expand the economy and amplify India's voice in the world.
But let's remember the famous exhortation of Swami Vivekananda:
“Arise, awake, and… https://t.co/rDoRtjsCw1As the government prepares to roll out the GST reforms later this month, the mixed reaction of celebration, political critique and cautious optimism suggests that public expectations are as high as the stakes of implementation.
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