While inaugurating the International Conference on Consumer Protection for East, South & South-East Asia in Delhi, Prime Minister Narendra Modi assured that GST will bring down the prices of goods and will benefit the poor and the middle-class people in India.
Even after the nonstop uproar by the opposition about the failure of GST and the economy slowing down, Modi is still firm on the point that GST will be successful and is in favour of the poor and middle class. Addressing the gathering in Delhi he said that “GST is giving the country a new business culture and consumers will be the biggest beneficiary of the new indirect tax regime.”
He said that since GST in implemented the competition amongst the companies have increased and this, in the long run, will be beneficial for the poor and the middle class. “GST will boost competition between companies, which will decrease prices of goods in turn benefiting poor and middle class consumers,” he said.
During his address, he also spoke about the slowing economy, ensuring that the government is making efforts to keep a check on the growing inflation in the economy. He further added that consumer protection is one of the priorities for the government besides GST. He assured the people that in the course of time with the aim of a new India by 2022, consumer protection is also the priority of the Modi government and it will soon be consumer prosperity.
“New consumer protection act is being made, consumer empowerment will be a major part of it and guidelines on misleading ads will be stricter,” he added.