Price Relief Progress: 40% of Consumers See Full GST Benefit on Food in Second Week

Price Relief Progress: 40% of Consumers See Full GST Benefit on Food in Second Week

• Significant Jump in Food Sector Benefit

  According to a nationwide survey by LocalCircles covering the second week of the GST 2.0 reforms (starting September 29), there was a sharp increase in the number of consumers reporting full price benefits on food products. 40% of surveyed consumers reported receiving the full benefit of the GST rate reduction on food, a four-fold increase from just 10% reported in the first week.

• Slow Progress in Medicines and Consumer Durables

  The rate of benefit transfer was slower in other key sectors. For medicines, the number of consumers reporting the full GST benefit improved only marginally, from 10% in week one to 16% in week two. In the consumer durables category, the transmission actually saw a dip, with only 23% of consumers reporting full benefits in week two, down from 34% in week one.

• Uneven Transmission in High-Value Items

  In the vehicles category, the percentage of consumers receiving the full GST benefit also declined significantly to 55% in week two, compared to 76% in the first week. The report noted that consumers complained of ongoing bottlenecks, particularly concerning vehicle deliveries. The survey covered over 74,000 responses across 341 districts of India.

Source :- financial express