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flag India's PM Modi streamlines GST to two rates, facing praise and concerns over revenue.

flag Prime Minister Narendra Modi's decision to rationalize Goods and Services Tax (GST) rates has been met with mixed reactions. flag The reform reduces the number of tax slabs to two, 5% and 18%, offering relief to farmers, small businesses, and middle-class families. flag However, some states like Kerala and Odisha estimate revenue losses and seek compensation from the central government. flag Political parties like the BJP hail the decision as a "historic step," while the Congress party criticizes it as an incomplete reform. flag The changes are expected to take effect from September 22.

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