During Budget speech, Finance Minister Nirmala Sitharaman asserted that through GST, the inspector raj has vanished, and the new tax regime has benefitted the MSME sector. “I pay homage to visionary leader Late Arun Jaitley, the chief architect of Goods and Services Tax. GST has been the most historic of the structural reforms.

GST has been gradually maturing into a tax that has integrated the country economically. GST has resulted in efficiency gains in the transport and logistics sector, inspector raj has vanished, it has benefitted Micro, Small & Medium Enterprises (MSME). Consumers have got an annual benefit of 1 lakh crore rupees by GST,” said Finance Minister. Finance Minister Nirmala Sitharaman presented the full Budget of the second term of the Narendra Modi government. Sitharaman Presented Union Budget for financial year 2020-21.