Vijayawada: CII (Confederation of Indian Industry) Andhra Pradesh welcomed the changes announced under the Goods and Services Tax (GST) regime by Minister of Finance Nirmala Sitharaman terming them timely, progressive, and reflective of the government’s commitment to foster a business-friendly environment.

Murali Krishna Gannamani, chairman of CII-AP and CEO of Fluentgrid Ltd, remarked, the landmark decisions taken at the 56th meeting of the GST Council marks a decisive step towards simplification, affordability, and economic momentum. The sharp cut in GST on cement from 28 percent to 18 percent is a game changer. -

S Narendra Kumar, vice-chairman, CII-AP and executive director, Apex Solutions Pvt Ltd, stated that this is not just a fiscal reform; it is a reform with a strong human face. It addresses the needs of farmers, workers, small businesses, middle-class households, and large industries alike.

Hospitality, wellness, and fitness services have all moved to lower tax slabs. The exemption of GST on individual health and life insurance policies is perhaps the single most impactful reform for households. Coupled with rate reductions and exemptions on essential medicines and medical devices, the healthcare ecosystem will see both affordability and demand rise.

The reduction of GST on tractors, farm machinery, and fertilizers will significantly lower the cost of agricultural operations. Lower input costs will also support better margins for agribusinesses and rural entrepreneurs. At a time when rural demand needs strengthening, these measures will give a much-needed boost to consumption in villages and small towns.