Explainer: All you need to know about the GST on EVs
During the 55th GST Council meeting press conference on Saturday, the panel approved an increase in the GST rate on used EVs sold by businesses to 18 per cent from 12 per cent earlier.
Prime Minister Narendra Modi on Sunday said that the reforms introduced by the Finance Minister will have a transformative impact on health and education sectors and will also help to boost entrepreneurship.
“Measures and reforms announced by the FM today will have a transformative impact on our health and education sectors. They will boost entrepreneurship, help public sector units and revitalise the village economy. Reform trajectories of the states will also get an impetus,” PM Modi said in a tweet.
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Measures and reforms announced by the FM today will have a transformative impact on our health and education sectors. They will boost entrepreneurship, help public sector units and revitalise the village economy. Reform trajectories of the states will also get an impetus.
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— Narendra Modi (@narendramodi) May 17, 2020
Home Minister Amit Shah has also praised the Covid stimulus and said that it is a game-changer in health, education and business sectors.
“Today’s announcements by the Modi government will go a long way in realizing the idea of ‘Atmanirbhar Bharat’. These steps will prove to be a game-changer for health, education & business sectors, which will provide employment to crores of poor. I thank PM Narendra Modi and Finance Minister Nirmala Sitharaman,” said in a tweet.
During the fifth and final tranche of the Rs 20 lakh crore stimulus, Finance Minister Nirmala Sitharaman provided major reforms in the education sector by announcing online classes, allowing 5 per cent borrowing to states which was earlier 3 per cent, decriminalizing seven compoundable offences under the Companies Act, debts due to Covid not to be included under ‘default’ category among others were some of the important announcement made.
In the other tranches, Nirmala Sitharaman has given details of transformation in MSMEs, agriculture, defence apart from food guarantee to migrant workers. The government assured 5 kg food grain per person and one kg channa per family either they are or not the beneficiaries of the National Food Security Act, 2013 or hold a state ration card.
On May 12, Prime Minister Narendra Modi had announced Rs 20 lakh crore stimulus package and said the break-up will be given in tranches by the finance minister.
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