A fortnight after the GST Council announced sweeping rate cuts on essentials and consumer durables, India’s top newspapers were awash with “thank you” notes. Full-page spreads and jackets from companies and trade associations crowded the front and back pages, while several ads carried oversized portraits of Prime Minister Narendra Modi – often dwarfing the logos and products they were meant to promote.

Between September 1 and 15, Newslaundry analysed advertisements in the Delhi editions of The Times of India, Hindustan Times, The Indian Express, The Hindu, and Dainik Jagran. Our findings show that GST cuts not only buoyed corporate messaging but also boosted ad revenue for newspapers, with ToI and HT cashing in the most.

On September 3, the GST Council slashed tax rates on a wide range of goods, while raising duties on luxury items to 40 percent. Soon after, the Centre reportedly asked companies to release ads announcing revised pricing. Corporate India initially responded with a flood of advertisements in national dailies, joined by a government ad campaign celebrating the reforms.

If ad rates listed by media agency The Media Ant are anything to go by then newspapers would have raked in crores given the sheer number of congratulatory GST ads.

The language and design of many ads blurred the line between commercial promotion and political messaging. In several, the PM’s cut-out was larger than the product itself.

For instance, HT carried a FICCI full-page ad thanking the “Honourable Prime Minister” for a “landmark reform.” The Indian Express published a PHDCCI ad calling the cuts a “festive bonanza”. Amul’s spread read: “A heartfelt thank you, Narendra bhai Modi. Progressive reform.”

The Fertiliser Association of India’s ad in HT placed Modi and finance minister Nirmala Sitharaman’s portraits across the top half of the page, pushing the FAI logo to the bottom. On September 10, Shefexil’s full-page ad in HT expressed “gratitude to visionary leadership,” with Modi’s image dominating the layout. Hatsun Agro, Lumio TV, and the Cement Manufacturers Association followed the same template.

Between the sheets

Dainik Jagran published three “thank you” ads, seven government ads, and 12 private placements referencing GST, including multiple automaker jackets. Its cumulative revenue stood at Rs 3.78 crore.

The Times of India led with 15 “thank you” ads, including three full-page tributes and a last-page jacket by Hero. Government ads and corporate placements added to a total haul of Rs 12.24 crore.

The Hindu carried just three “thank you” ads – by Hatsun Agro, TVS, and Amul. Its revenue from GST-related placements was Rs 39.7 lakh.

Hindustan Times published six major “thank you” ads, two half-page government ads, and a skybus. Brands like Maruti Suzuki, Hyundai, and JSW joined the mix, taking HT’s earnings to Rs 6.8 crore.

The Indian Express ran seven “thank you” ads, four government ads, and an Amul cartoon. Together, these generated Rs 2.06 crore.

Most industry bodies, such as Assocham and FAI, preferred smaller slots, while corporates booked the more premium formats: full-page spreads and jackets. Hatsun Agro was among the most consistent, appearing across multiple papers.

Overall, the five dailies carried 34 “thank you” ads in two weeks – 13 of them full pages or jackets. Companies may have signed the bills, but the messaging, drenched in praise for the PM, blurred the boundary between gratitude and political endorsement.

We, too, thank the visionary leadership of Modiji for letting news subscriptions remain a luxury for many with an 18 percent GST. To celebrate this reform, we have an offer. Grab it now.