The government introduced GST reforms to rectify the affordability, improve mobility, promote healthier lifestyles and strengthen key industries.
The financial burden on households has been lowered from reducing the GST rates on gyms and fitness centres, two-wheelers and small cars, while moving forward with its long-term objective of encouraging healthy living, affordable transportation and better ease of life.
This move of the government shall provide benefits to the middle class, youth and working professionals, increasing the demand in sectors of the economy.
The GST on gyms and fitness centres has been reduced to 5% from 18% which the government specified as a move for developing a healthier and active India. Now the fitness will be accessible to wider sections of society, which, before, was seen as a luxury. Such measures are aligned with the national health initiatives like the Fit India Movement, which is for preventive care and lifestyle changes to lessen chronic illness.
GST for two-wheelers up to 350cc has been lowered to 18% from 28%. For millions of Indians in rural and semi-urban areas, two-wheelers are called as the lifeline by the government, specifically in rural and semi-urban areas. The tax rate reduction shall furnish relief for the lower-middle-class households, young professionals and gig workers who are dependent on cheaper transport for their day-to-day needs.
GST reduction on small cars is anticipated to motivate first-time buyers to invest in personal mobility. In semi-urban and rural markets, compact cars are most popular, with a decrease in rates, the sales can be enhanced in these regions, which improves the presence of the auto industry outside urban centres.
For young professionals, working parents and students, cost-effective small cars enhance mobility, which makes daily commuting simpler and reliable. The decision to push the auto sector shall support the job creation in manufacturing, sales, services and financing.
Such GST reform measures specify a robust push to the government’s objective of economic self-reliance, citizen empowerment, and enhanced ease of living for every Indian.
