New Delhi, Oct. 21 -- Three Union Ministers on Saturday addressed a joint press conference in New Delhi on the 'GST Bachat Utsav', outlining the impact of the recently implemented Next-Generation GST reforms on the economy, industry, and consumers.

"Rate reduction, process simplification, consolidation of slabs from four to two, and resolution of classification issues have all been completed well before time," Finance Minister Nirmala Sitharaman said, adding that the changes have been positively received by the public.

Sitharaman emphasised that the reforms represent 'a conscious decision' and not a correction, underscoring the cooperation between the Centre and the GST Council. "A reduction in tax rates is for the benefit of consumers,...