Online cell will increase
Finance Minister Nirmala Sitharaman has given a big gift to the countrymen by cutting the GST rate before the festive season. This is expected to increase consumption. The new GST rates will be applicable from September 22. According to a recent local circles report, this year, the number of urban Indian families choosing e-commerce and online platform as their favorite medium is likely to increase for spending on festivals. People can shop more sitting at home on festivals. There is a chance of 115 percent increase in the number of people who shop online.
Also, recent GST rates are rationalized and positive perception among buyers is expected to be promoted. According to this report, the number of urban shopping online shopping is expected to increase by 115 percent.
Online shopping will increase
At the same time, a large section still prefers offline shopping during festivals. The report states that 37 percent of urban Indian families are planning to spend Rs 20,000 or more in this festive season. This will not only increase consumption but will also contribute well to people in the economy.
How much will be the benefit
In the festive season, people shop with emotion, not seeing their pockets. It is often seen with Indians. However, this time the GST rate cut can motivate people to buy more goods. According to the report, the total expenditure in the festive season of 2025 is estimated to be Rs 2.19 lakh crore.
The report also reported that after the announcement of GST reforms towards the government, white goods and consumer electronics like AC, fridge, washing machine and TV have declined, so that urban Indian families can prefer e-commerce and online platform for shopping.