PM Modi on GST reforms: “Savings festival to bring smiles to every household”

Prime Minister Narendra Modi on Monday praised the rollout of the new Goods and Services Tax (GST) reforms, describing them as a step that will reduce expenses and spread happiness across homes.

Speaking during his visit to an exhibition in Itanagar, Modi interacted with local traders and retailers, emphasizing how the changes would ease financial burdens. Sharing newspaper headlines on social media platform X, he wrote, “From markets to households, GST Bachat Utsav brings a festive buzz, ensuring lower costs and brighter smiles in every home!”

The revised GST structure, which came into effect on September 22, coinciding with the start of Navratri, replaces the earlier four-tier system of 5%, 12%, 18%, and 28% with a simplified two-rate model of 5% and 18%. The government projects that these changes, along with earlier income tax reliefs, could result in national savings of ₹2.5 lakh crore.

In his address on Sunday, Modi highlighted that the reforms would empower farmers, youth, women, shopkeepers, small traders, and entrepreneurs. He stressed that MSMEs stand to gain significantly, with higher sales and reduced tax liabilities creating a “double bonanza.”

The Prime Minister also urged citizens to prioritize Indian-made products, stating that self-reliance and pride in local goods will accelerate the nation’s progress.

Source: Hindustan Times