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India’s 2024 GST 2.0 reforms cut taxes on essentials and electronics, lowering prices and boosting sales and manufacturing.
India’s GST 2.0 reforms, implemented in September, have led to significant tax cuts on essentials and electronics, with the government confirming price reductions were passed to consumers across 54 monitored items.
Sales of TVs, air conditioners, and vehicles surged, with AC sales doubling and 85-inch TVs selling out.
Electronics manufacturing grew, smartphone exports to the U.S. exceeded those of neighboring countries, and the IMF raised India’s growth forecast to 6.6%.
The government also announced a 3% DA hike for 4.9 million employees and 6.8 million pensioners, enhanced CGHS benefits, and digital reforms for pensioners.
Las reformas GST 2.0 de 2024 de la India redujeron los impuestos sobre artículos esenciales y electrónicos, redujeron los precios e impulsaron las ventas y la fabricación.