• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Nation

GST Reforms To Set Economy Open, Transparent Aiding Small Businesses: FM Sitharaman

OMMCOM NEWS by OMMCOM NEWS
September 2, 2025
in Nation

Chennai: Union Finance Minister Nirmala Sitharaman said on Tuesday that the next generation GST reforms will create an open and transparent economy, reduce compliance burdens, and benefit small businesses.

Speaking at the 120th Foundation Day celebrations of City Union Bank in Tamil Nadu, the Finance Minister emphasised that Prime Minister Narendra Modi announced the creation of a task force for next-generation reforms with a clearer mandate to simplify regulations, lower compliance costs and also build a more enabling ecosystem for startups, and MSMEs.

FM Sitharaman was hinting at the rationale followed by the GST Council at its upcoming meeting.

“All the banks are called upon to not only expand credit but also provide momentum for infrastructure development and ensure timely and need-based funding to MSMEs,” the Finance Minister added.

FM Sitharaman further said that for India to achieve its vision of ‘Viksit Bharat 2047’, including the unbanked in formal banking and meeting various needs of banking support, is essential.

“In the last 11 years, 56 crore Jan Dhan accounts have been opened, with total deposits of Rs 2.68 lakh crore. Of this, 67 per cent were opened in rural and semi-urban areas, and women hold 56 per cent of all accounts,” FM she said.

In his Independence Day address, PM Modi had announced there would be massive Goods and Services Tax (GST) reforms, promising a Diwali bonanza for citizens.

As part of a comprehensive rate adjustment, the GST Council is scheduled to convene this week for a two-day meeting to re-examine GST rates on more than 150 items.

The GST council plans to overhaul the rate structure, replacing the current four-rate structure with a two-rate structure by moving various items from the 12 per cent and 18 per cent GST slabs to the 5 per cent slab or to the Nil GST category.

(IANS)

Tags: Nirmala Sitharaman
ShareTweetSendSharePinShareSend
Previous Post

3 Odisha-Made Semiconductor Chips Unveiled To PM Modi At Semicon India 2025

Next Post

Low-Pressure Area Over BoB Intensifies; IMD Issues Red Alert For Odisha Dists

Related Posts

Nation

Congress To Hold CWC Meeting In Patna Tomorrow For Bihar Assembly Polls

September 23, 2025
Nation

Man, Who Stabbed Wife 11 Times In Front Of Daughter, Surrenders Before Bengaluru Police

September 23, 2025
Nation

IAF Likely To See Strength Exceed Mandated 42 Fighter Squadrons

September 23, 2025
Nation

Centre Okays Rs 443 Crore Rajpura-Mohali New Rail Line Project In Punjab

September 23, 2025
Nation

PM Modi Applauds Rajat Sharma’s Re-Election As NBDA President

September 23, 2025
Nation

From SRK To Rani Mukerji: A Complete List Of The 71st National Film Awards Winners

September 23, 2025
Next Post
Heavy Rain

Low-Pressure Area Over BoB Intensifies; IMD Issues Red Alert For Odisha Dists

PM Modi Inaugurates Bihar Rajya Jeevika Nidhi Saakh Sahkari Sangh Limited

India Best-Performing G20 Nation On Sustainability, Trade Talks On Across The Globe: Piyush Goyal

Khimji
OMC
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.