As India celebrates the vibrant festival of Navratri, Prime Minister Narendra Modi extended heartfelt wishes to citizens, hoping for health, prosperity, and happiness across the nation. In a letter shared on X, the Prime Minister also announced the launch of the Next Generation GST reforms starting September 22, marking the start of the nationwide ‘GST Bachat Utsav’ or ‘GST Savings Festival.’
The new GST framework simplifies taxation and directly benefits all sections of society, including farmers, women, youth, low-income groups, middle-class families, traders, and MSMEs. The revised structure features two main tax slabs—5% and 18%. Essentials such as food, medicines, toiletries, and insurance are either exempt or taxed at the lower 5% rate. Products previously under the 12% slab have mostly shifted to 5%, promising significant consumer savings. Shopkeepers and traders across the country have already begun displaying ‘then and now’ boards to highlight reductions in tax rates post-reforms.
PM Modi emphasized that, along with recent income tax cuts—allowing zero tax liability for annual incomes up to $14,400—the combined public savings could reach nearly $30 billion. He noted that reduced household expenses would make it easier for families to fulfill goals such as purchasing homes, vehicles, appliances, dining out, or planning vacations.
Reflecting on the GST journey since 2017, Modi credited the GST Council for citizen-focused decisions that promoted economic integration. Looking ahead, he stressed that the new GST structure would further improve ease of doing business, benefit small industries and entrepreneurs, and strengthen local manufacturing under the ‘Aatmanirbhar Bharat’ mission. The Prime Minister urged citizens and businesses to support ‘Made in India’ products this festive season, underlining the role of Swadeshi goods in creating jobs, sustaining families, and fostering national self-reliance.
