Indian Business Leaders on GST Reforms: In the midst of tension on tariffs from the US, India was announced by Prime Minister Narendra Modi on the 79th Independence Day by Prime Minister Narendra Modi to promote domestic economy on the 79th Independence Day. After this, the four slabs of GST were replaced by two slabs and most of the taxes were reduced considerably or completely removed on most of the everyday things. This change will be applicable from 22 September.

It is believed that this will increase the government burden and will affect the income from tax, but it will have a very positive impact on the economy and employment. This is also expected to speed up the speed of GDP.

What do big businessmen say?

Indian business personalities have also welcomed this decision of the government. Radhika Gupta, MD and CEO of Edelweiss Asset Management, described it as a progressive step in challenging time on social media and said that this will strengthen both demand and positive trends. Industrialist Harsh Goenka called it a Diwali gift for the common people and said that the prices of goods related to everyday things, healthcare, education and agriculture have been reduced.

Big Diwali Gift for every Indian!
GST on Daily Essentials, Healthcare, Education & Farming Inputs Slashed.

cheaper groceries
relife in healthcare
affordable education
Support for Farmers

Next-Gen GST = Ease of Living + Boost to Economy.

– Harsh Goenka (@Hvgenka) September 3, 2025

Mahindra Group Chairman Anand Mahindra also described it as a positive step and said that such reforms will promote investment and consumption and strengthen India’s position globally. He stressed the need for more improvements, citing Swami Vivekananda’s famous teachings.

We have now joined the battle…

More and faster reforms are the surest way to unleash consumption and investment.
That, in turn, will expand the economy and amplife India’s voice in the world.

But let’s remember the famous exhortation of swami vivekananda:
“Arise, Awake, and… https://t.co/rdortjscw1

– Anand Mahindra (@anandmahindra) September 3, 2025

Prior to these reactions, Finance Minister Nirmala Sitharaman on Wednesday announced the reduction of GST rates on everyday things, automobiles, electronic devices and agricultural goods. In the 56th GST Council meeting, the tax slab was reduced to four to two and GST slab of 28 percent and 12 percent was completely abolished.

Also read: Gold became cheaper or expensive amid changes in GST? Know today on 4 September 2025, the fresh sense of your city

Gold ATM: Now a gold ATM has come which not only gives you money immediately, but its purity also melts gold and checks within minutes. This gold ATM in China is not only attracting the attention of the people of Shanghai, but it is being discussed a lot around the world. The special thing about this gold ATM is that it melts gold and weighs the weight after checking its purity. After this, after thirty minutes, the money is sent directly to the bank account.

This gold ATM is being run by the Kingshood Group of China, which accepts the weight above 3 grams, which has at least 50 percent purity. For this, no paper work is required in ATM nor any ID.

Long queues outside Gold ATM

Reports said that due to rising gold prices, long queues of people can be seen outside this gold ATM. There is so much demand for this machine that people have to book slots to use it. It has been further told in the report that till the month of May, all the appointments of this gold machine are booked, which shows how many people are in demand.

According to the report of Chines Times.com, 40 grams of gold was estimated at 785 yuan (about Rs 9200) perague during a demonstration. About 36,000 yuan (Rs 4.2 lakh) was sent to the vendor’s account within half an hour. Harsh Goenka of RPG Enterprises wrote on social media X- “ATM Gold in Shanghai: Insert your jewelery, it will check its purity, melt, its value will come and immediately money will be deposited in your account.”

He said that this gold ATM can prove to be a big threat to the lenders in India. Goenka said- If it comes in India, then a new business model will be developed instead of traditional gold business, which will be transparency and exploitation will end.

Also read: Lakhtakia became gold on seeing this, due to these five factor, gold reached the sky