New Delhi, Oct. 18 -- The GST rate cuts implemented last month have given a strong boost to demand for goods and services and investment sentiment in the country, aiding the government's efforts to make the country more prosperous, union cabinet ministers said on Saturday at a press briefing about GST reforms.

Finance Minister Nirmala Sitharaman, Commerce and Industry Minister Piyush Goyal and Information and Broadcasting minister Ashwini Vaishnaw expressed confidence that businesses have reduced prices and that sales of goods have seen a sharp increase after the rate cuts.

Finance Minister Nirmala Sitharaman said that since 22 September, when the GST reforms comprising tax rate cuts, correction of inverted duty structure and simplifica...