Finance Minister Nirmala Sitharaman announced that the implementation of GST in India has resulted in a significant improvement in tax buoyancy. She highlighted that the tax buoyancy rate has increased from 0.72 (pre-GST) to 1.22 (2018-23), benefiting both the central and state governments. Sitharaman emphasized the pro-poor approach of the government in fixing GST rates and the effective tax administration that has enabled the collection of the same revenue with a lower burden on taxpayers.