New Delhi, Sep 20
The recent Goods and Services Tax (GST) reforms represent a landmark step in reshaping India’s taxation system to better serve the aspirations of its youth, the Union Government said on Saturday.
GST on leather, footwear, textiles, handicrafts, and toys has been reduced to 5 per cent to boost youth-led MSMEs and exports. Meanwhile, Essential learning materials like pencils, erasers, and exercise books have been made GST-free to ease education costs.
Sectors with high youth participation—such as education, automobiles, technology, handicrafts, footwear, healthcare, food processing, and textiles —have been prioritised to lower costs, boost competitiveness, and encourage innovation.
Beyond reducing the financial burden on households and businesses, the reforms strengthen India’s vision of inclusive growth, sustainability, and empowerment of the next generation.