AGARTALA, Sep 4 (TIWN): Tripura Chief Minister Dr. Manik Saha said, he can not express in words, how much he feels about PM Modi for his attempts of economic reforms. "One after another economic reforms are being brought by Prime Minister Modi and our Finance Minister Nirmala Sitharaman ji and it's beyond words to express my gratitude for that."

"On behalf of Tripura people, I thank him (PM Modi)," he added.

Chief Minister Dr. Manik Saha reacted to GST revised rates announced by the Central Government.

The statement came after India's Finance Minister Nirmala Sitharaman announced significant changes to the Goods and Services Tax (GST) regime, effective September 22, 2025. The reforms aim to simplify the tax structure, reduce rates on essentials, and boost domestic demand. Here are the key highlights :

New GST Slabs:

5%: Essentials like food items, healthcare products, agricultural equipment, and daily necessities such as soap, shampoo, toothpaste, and hair oil
18%: Most goods and services, including small cars, electronics, cement, and consumer durables
40%: Luxury and sin goods like high-end vehicles, tobacco products, carbonated beverages, and aerated drinks

Rate Reductions:

Daily Essentials: Toothpaste, shampoo, soap, and hair oil reduced from 18% to 5%
Food Items: Packaged foods, instant noodles, coffee, chocolates, and dairy products reduced from 12% or 18% to 5%
Small Cars: Reduced from 28% to 18% for petrol, LPG, or CNG cars up to 1200 cc and diesel cars up to 1500 cc
Electronics: Air conditioners, TVs, and consumer electronics reduced from 28% to 18%
Healthcare: Individual health and life insurance policies exempt from GST

Other Changes:

Simplified Compliance: Automatic GST registration within 3 working days and faster refunds
Relief for Businesses: Reduced classification disputes and improved pricing clarity across the supply chain

The reforms are expected to boost domestic consumption, support farmers and MSMEs, and stimulate economic growth. The government projects a net revenue implication of ?48,000 crore and anticipates a 0.2-0.3% increase in GDP in FY26.