Haryana Chief Minister Manohar Lal Khattar on Saturday hailed the introduction of Goods and Services Tax (GST) as a good initiative to reform the Indian economy, which would lead to shrinking of red-tapism, and facilitate consumers and traders by reducing costs.
Khattar, who was interacting with mediapersons after inaugurating and laying the foundation stones of several development projects in Kaithal, said that several goods had been made tax-free and taxes on some other goods had been reduced under GST.
A GST of 28 per cent would be levied on items such as TVs, air conditioners, refrigerators, washing machines and furniture, which are presently taxed at 33 per cent. Such reduction in costs would boost competitiveness among traders, which would further benefit consumers, he added.
Read | GST to lower overall tax burden over time: RBI governor Urjit Patel
Reiterating that the Haryana government was sensitive towards the interests of the farmers, he said that compensation to the tune of Rs 2,400 crore had so far been disbursed to the farmers.
This included compensation of Rs 268.74 crore announced but not disbursed by the previous government.
He said that 50 per cent of the announcements made by him during the last 32 months regarding development works to be undertaken throughout the state had been implemented while the remaining would soon be completed.