JK News Today
Jammu, September 8: The J&K Council of the Associated Chambers of Commerce & Industry of India (ASSOCHAM) has wholeheartedly welcomed the recent Goods and Services Tax (GST) reforms announced by the Government of India, calling it a “Diwali Bonanza” for the people and the economy.
The reforms include reduction of GST rates on several essential items, making them more affordable for the common man. ASSOCHAM has expressed its gratitude to Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman, and her entire team for this people-centric step, which will not only provide relief to households but also encourage greater consumer spending.
Manik Batra, Chairman, ASSOCHAM J&K Council and Director, Batra Group, said, “The new GST framework is a landmark decision and a step in the right direction towards simplification and transparency. By reducing the compliance burden, eliminating cascading taxes, and enabling smoother interstate trade, it strengthens ease of doing business. These reforms will boost investor confidence, promote entrepreneurship, and create a more unified national market. We are confident this will lead to increased investments in Jammu & Kashmir as well.”
Highlighting the wider impact, Mr. Batra added that these reforms will increase purchasing power among citizens, create demand across sectors, and thereby accelerate economic growth at both regional and national levels.
Bhupesh Gupta, Co-Chairman, ASSOCHAM J&K Council, also appreciated the government’s move, saying:
“GST reforms will propel India to new heights. By putting more money in buyers’ pockets, making goods and services affordable, and ensuring transparency, this reform will drive ease of doing business and unlock greater export potential for Indian companies. It is a win-win for consumers as well as the industry.”
ASSOCHAM J&K Council believes these reforms are a clear reflection of the government’s commitment to creating a pro-people, pro-business environment. The chamber also expressed hope that such reforms will further strengthen India’s position as one of the fastest-growing economies in the world while opening new opportunities for trade, industry, and investment in Jammu & Kashmir.
