IT-BT Budget Round Table 2025: GST cut will benefit everyone, put money in every pocket: P Chidambaram

Renovation of tax exemption from 7 Lakhs to Rs12 Lake, Rs12 Lake, the revised tax rates, laid Rs 1 Lakh Corre returns to taxpayers’ pockets. Speaking in India Today, today-Business Budget Round Table 2025, Rajjeep Sardesai, Former Minister of Finance P. The Chidambamam welcomed the move, but they insisted that broader measures were needed.

“I welcome it, but I think the masses deserve money in their hands. It means to be GST or should have been taxes and diesels taxes
has been reduced, “said Chidambama.

Although tax cuts will cost Exchaquer Rs1 Lakh Crore, many experts believe that it will increase consumption and savings to pursue economic growth. However, the delegation remained skeptical.

“The Minister of Finance has put Rs1 Lakh Crore in the hands of taxpayers, but it will not go through consumer. Some will enter bank deposits, some will be used to repay the loans, and some will be used for a foreign journey. The main question is. How much is the internal consumption actually doing? ” He said:

Highlighting the inaccessions of the income, he pointed out the latest data on one capacity of monthly expenses. “In December 2024, the average monthly monthly expenditure per capita was RS4,122 in rural areas, and RS6,996 in urban areas. For the lower half of the population it is much lower in their hands. If the masses consume more, it will bring in demand, “he explained.

https://www.youtube.com/watch?v=ijprcenheepm

The Chidambamam also noted the reduction of capital expenditures, announcing “Center and the State Captain decreased by RS1.84 Rs.

He pointed out about the global risks in the United States, saying: Opposition leaders are for a serious dialogue before he is leaving for the United States. “