People will have Rs 2 lakh crore cash in hand due to GST rejig: Nirmala Sitharaman – The Tribune

Union Finance Minister Nirmala Sitharaman on Wednesday said people will have Rs 2 lakh crore cash in hand due to the GST rejig.

Speaking in Vizag, Sitharaman said, “Around 99 per cent of the goods under 12 per cent GST slab went into 5 per cent slab.”

She said the GST rejig resulted in 90 per cent goods under 28 per cent tax slab moving into 18 per cent bracket.