Impact of GST Rate Cuts on Delhi's Economy

The recent GST reforms in Delhi have led to significant price reductions on everyday essentials, including dairy products, footwear, furniture, and salon services, with costs decreasing by 6-12%. Insurance premiums are now GST-free, saving households 18%. The automotive sector benefits from lower GST rates, and the tourism industry sees hotel stays becoming approximately 6.25% cheaper. These changes aim to ease household budgets, stimulate economic activity, and enhance competitiveness for local businesses, particularly MSMEs, while also creating job opportunities in various sectors.

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