GST 2.0: After the announcement of Goods and Services Tax i.e. GST reform and change in new tax slabs on behalf of the Central Government, it was expressed by the state governments that its revenue will be affected. The Center also admitted that the financial burden on the government may increase after the GST reform. But according to a report, there is no additional financial impact on any kind of government with GST reform.

Government will not be burdened

According to rating agency Crisil, the changes made in the recent GST rates will not cause any fiscal burden on the government. On Friday, the rating agency said in a report that due to the reduction in GST rate by the government, a net loss of about Rs 48,000 crore is estimated to be around Rs 48,000 crore, while in the financial year 2024-25 the total GST collection had increased to Rs 10.6 lakh crore.

This report further stated that this revenue loss is not very high in proportion to the total GST collection. It is worth noting that the GST Council has recently changed the tax structure and decided to keep it in two slabs of 5 percent and 18 percent. This amendment of GST reform will become effective from September 22 and after that the prices of many products and services will decrease.

Strong tax collection

According to the Crisil report, rationalizing GST rates will be able to bring more Goods and Services under the formal tax realm, which will strengthen tax collection in the medium period. Earlier 70-75% GST revenue used to come from 18% slab, while 12% slab used to get only 5-6% and 13-15% revenue from 28% slab. According to the report, there will be no significant loss to revenue due to reduced tax on goods included in 12% slab.

At the same time, rates on fast growing services like mobile fee are the same. Whereas new services like e-commerce delivery have been incorporated into the GST slab and taxed at the rate of 18%. Crisil said that tax cuts will increase the actual income of consumers, which can encourage both demand and GST collection. However, it will depend on to what extent producers deliver the benefit of change in tax to consumers.

93 percent of India’s rich wealth listed companies are connected to the stock market. A report by 360 One Wealth has made a big disclosure. This report has been designed in collaboration with the rating agency CRISIL, and it contains 2,013 wealth creators, which have a total net worth of more than 100 lakh crores.

Who is at the top in the list of rich people?

Akash and Anant Ambani are at the top of this list, whose personal property is 3.59 lakh crores. Isha Ambani is at the top of the list of women. Interestingly, women are now 24 percent of the total assets of the country and their participation in the pharma sector has reached 33 percent.

Mumbai became the capital of wealth

The most rich people of India live in Mumbai, 577 wealth creators here control 40 percent of the total wealth of the country. Delhi is in second and third position with 17 per cent and Bengaluru 8 per cent stake.

Stock market and listed companies dominate

According to this report, the top business houses of the country, the promoter family of Reliance, Adani and Tata Group together hold assets worth 36 lakh crores, i.e. 24 percent of the total promoter wealth.

Which sectors are making millionaires?

The most average wealth is in the banking sector. 8,500 crore per capita, followed by telecom (8,400 crore) and aviation (7,900 crore). Pharma, IT and Financial Services Sectors are constructing 26 per cent assets.

Digital India, new rich factory

Most of the young entrepreneurs who are under 40 years of age have made their wealth from digital economy. Due to startups like Zerodha, Upstox, Urban Company, Swiggy, PhysicsWallah, Unacademy, it has become easier to become a billionaire in India.

Disclaimer: (Information provided here is being given only for information. It is necessary to tell here that the investment market is subject to risks. Always consult expert before investing as an investor. Never is advised to invest money from Abplive.com.

Also read: 10,20,30 not … These 3 strong stocks can give up to 34 percent, big brokerage firm has given Buy rating

Crisil Report on Thali: This is a relief on the domestic front amid tension on the border between India and Pakistan. Credit rating agency Crisil has reported in its report that both homemade vegetarian and non -vegetarian plate became cheaper in the month of April. The reason for the decrease in the price of such onion and potato has been due. The cow said in the report that if we compare the month of April from last year, then the price of the plate has come down by about 5 percent. According to Crisil’s bread rice rate report, this decline in food plate prices has come despite the increase in the price of compulsory items such as LPG and eating oil.

Wage-non-veg plate became cheap

The credit rating agency said in the report that average spending has increased, such as the cost of eating oil has increased by 19 per cent due to the increase in customs duty, while the price of LPG cylinders has also increased by 6 percent. Pushish Sharma, director (research) of Crisil Intelligence, says that food prices may also fall in the coming 2-3 months. This is due to global supply such as Argentina, Indonesia and Malaysia, its supply may increase.

With the increase in rice imports, its prices are also expected to increase. Also, the prices of other vegetables, onions and tomatoes can also increase according to the season. At present, the price of tomatoes is falling at the rate of Rs 34 percent to Rs 21 per kg on an annual basis, which used to get Rs 32 kg in April 2024. Similarly, the price of potatoes has fallen by about 11 percent as compared to last year. Last year, there was damage due to unseasonal rains in West Bengal. Onion prices have declined by 6 percent in a similar way.

Cheap potato-onion

The major reason for the decline in the price of non -vegetarian plate is the cheap of broiler chicken. Its price is being seen by about 4 percent compared to last year. The reason for the decrease in the price of chicken is more supply than its demand. Apart from this, the demand for birdflu in Maharashtra, Andhra Pradesh, Telangana and Karnataka has also reduced its demand. Comparing on a month basis, the price of vegetarian plate has fallen by one percent in the month of April, while the non -vegetarian plate has become cheaper 2 percent.

Also read: After Operation Sindoor, India suffered much loss from Pakistan in this matter, did not imagine such