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GST 2.0 Reforms Drive Record Festival Sales, Fuel Economic Growth: FM Sitharaman
Oct 18, 2025Union Finance Minister Nirmala Sitharaman on Saturday credited the recent GST 2.0 reforms for significantly boosting the Indian economy, leading to record-breaking sales during the ongoing festival season. Addressing a joint press conference at the GST Bachat Utsav in New Delhi, she highlighted the positive impact of GST rate reductions, which, she said, are directly benefiting the common people.
Speaking alongside Information and Broadcasting Minister Ashwini Vaishnaw and Commerce and Industry Minister Piyush Goyal, Sitharaman noted strong sales growth across key sectors such as electronics, automobiles, and fast-moving consumer goods.
“GST 2.0 reforms have streamlined the tax structure and improved compliance, resulting in increased consumer spending and industrial growth. The benefits of tax reductions are now being felt at the grassroots level,” she said.
Minister Ashwini Vaishnaw shared that this year’s Navratri festival witnessed a record surge in consumer purchases, particularly in the electronics segment. “Sales of electronic goods have increased by 25% compared to last year’s Navratri season,” he said. Vaishnaw also stated that food prices have shown a downward trend due to GST reforms, further aiding consumer sentiment.
Commerce and Industry Minister Piyush Goyal echoed the optimistic outlook, stating that vehicle sales saw a significant jump during the festive period. “The electronics sector has broken all previous records this season. In a globally volatile economic environment, India’s growth remains strong,” he said.
Goyal added that the International Monetary Fund (IMF) recently revised India’s growth forecast upwards to 6.6%, acknowledging the country’s economic resilience.
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