NDTV Explains: What's Cheaper Under GST 2.0 Reforms

India will witness a restructuring of its Goods and Services Tax (GST) system from today, which government officials have described as the launch of "GST 2.0." The overhaul, coinciding with the first day of Navaratri, will benefit nearly every household, business, and service sector in the country.

The GST Council, composed of the Centre and state governments, has agreed to rationalise the tax structure by reducing rates on hundreds of essential and mass-consumption items. For consumers, the immediate effect will be visible on supermarket shelves, in pharmacies, at automobile dealerships, and across sectors such as healthcare, insurance, and education.

Finance Minister Nirmala Sitharaman has said that this restructuring will add around Rs 2 lakh crore to the economy.