GST Savings Festival 2025: Will this step of Modi government save thousands of rupees in your budget or is there any other big secret behind the move of companies? Prices have a heavy cut, but what will be the real effect?
GST 2.0 India 2025: Prime Minister Narendra Modi announced in the name of the nation on Sunday evening that the GST savings festival will start from 22 September. During this time, everything from everyday things to car, electronics and health insurance is going to be cheaper. It feels good to hear, but the question is also arising in the minds of the people-is it just an announcement or will you really save thousands of rupees in your pocket? This mystery has been opened in this article.
FMCG and everyday items will be cheap
FMCG companies announced big discounts after the new GST rates were implemented. Companies like Amul, Mother Dairy, Cellogs have reduced the prices of items like milk, cheese, butter and biscuits by 5–12%. Its such as pringles chips and ice cream have also become 10-12% cheaper than before.
18% GST relief on health insurance
Now there will be no GST on personal health insurance premium. Earlier, due to 18% GST, a premium of Rs 15,000 reached Rs 17,700. The new rates will save thousands of rupees every year.
Heavy cuts in cars and electronics prices
Companies like Maruti Suzuki announced that the new GST rates would reduce the price of cars from Rs 46,000 to Rs 1.29 lakh. At the same time, brands like whirlpool have announced a reduction of Rs 3,000-5,000 on AC and dishwasher.
Government pressure and compulsion of companies
The Finance Ministry has made it clear that companies should take advantage of rate deduction to consumers. For this reason, companies are attracting their brand through advertisements and exemption. However, car dealers have also suffered heavy losses on old stocks.
Impact on domestic budget
According to the report of Bank of Baroda, the new GST rates will speed up consumption. Low prices will motivate consumers to save and invest. That is, the ‘GST Savings Festival 2025’ is not just a discount, but also a step of the economy.