Naidu announces Cabinet sub-committee to study impact of GST reforms, AP Assembly adopts resolution hailing Centre's decision on rationalisation

Lauding the efforts of the NDA Government at the Centre for implementation of next-gen GST reforms enabling a cash flow of Rs.2 lakh crore to the economy, Andhra Pradesh State Legislative Assembly on the first day of the monsoon session on Thursday adopted a resolution unanimously conveying its gratitude to Prime Minister Narendra Modi for the candid decision to reduce GST slabs from five to two and waive off/reduce GST on many products and services.

Supporting the resolution, Chief Minister N. Chandrababu Naidu said there is a need to further study the implications of rationalisation and simplification of GST by the GST Council after an announcement by the Prime Minister and called for an exercise on how to avail maximum benefit by five crore people of Andhra Pradesh.

He said the elected representatives need to create awareness on the reforms being introduced by the GST Council and profusely thanked the Centre for the decision on implementation of next generation reforms benefiting all sections of people.

Deputy Chief Minister Pawan Kalyan said the GST 2.0 will be a game-changer enabling people to save more cash and thanked the Centre for the revolutionary decision.

Finance Minister Payyavula Keshav said the credit of Andhra Pradesh turning into the first State even before the GST Council took a formal decision for unconditionally supporting the proposal to introduce reforms. "Showing his maturity and leadership, Naidu wholeheartedly supported them to go ahead in supporting when he brought to his notice after an exercise that Andhra Pradesh Government will forfeit a revenue of Rs.8,000 crore due to the rationalisation of GST structure. He was happy that the people will be benefited due to fall in prices," the Minister pointed out.

He said when asked Union Finance Minister Nirmala Sitharraman out of curiosity on how they could take such a gigantic exercise on tax structure rationalisation, she informed him the entire exercise took eight months after she spent three hours a day to oversee the progress on a daily basis.