Finance Minister Nirmala Sitharaman said next-generation GST reforms will infuse ₹2 lakh crore into the economy. "People will have cash in hand," she added. Sitharaman said that under the new regime, 99% of goods in the 12% GST slab have been moved to the 5% bracket, while 90% of items in the 28% slab have been brought down to 18%.