Government has taken various measures to boost the incomes especially rural incomes to usher spending and consumption levels in the economy.
DMPQ- Government has taken various step towards boosting consumption. Enumerate the number of steps taken by government to boost consumption.
- With a move towards attaining universal social security, Government has approved a new scheme that offers pension coverage to the trading community. Under this scheme all shopkeepers, retail traders and self-employed persons are assured a minimum monthly pension of Rs.3,000 per month after attaining the age of 60 years.
- e.f. 1st August 2019, GST rate on all electric vehicles has been reduced from 12 per cent to 5 per cent and of charger or charging stations for EVs from 18 per cent to 5 per cent . Hiring of electric buses (of carrying capacity of more than 12 passengers) by local authorities will be exempted from GST.