New Delhi, Sept. 4 -- Former President of Federation of Indian Chambers of Commerce and Industry (FICCI), Subhrakant Panda said on Thursday that the central government moving towards a two-tiered Goods and Services Tax (GST) shows the "maturation of the whole indirect tax regime," and that the newly announced tax rates fit in with Prime Minister Narendra Modi's vision of Atmanirbhar Bharat (self-reliant India).

"With this big bang reform, there will be a boost to demand. Especially from a common man's perspective, I think, it will provide a lot of relief by bringing down the cost of many everyday items, as well as some of the aspirational items. Overall, I think that is a very significant development," the former FICCI president told ANI...