The BRICS TimesGST reforms are being introduced keeping in mind the country’s needs and future plans. Goods will now attract 5 and 18 percent tax, which will directly benefit citizens.
Prime Minister Narendra Modi addressed the nation ahead of the implementation of the new GST reform. During his speech, he highlighted that the government had already provided income tax exemption on earnings up to ₹12 lakh. Now, starting from September 22, the government is set to roll out GST reforms across the country. He emphasized that this marks a “double bonanza” for the middle class, offering both income tax relief and GST savings.
A Step Towards Self-Reliant India
In his address, the Prime Minister said that with the onset of Navratri, India is taking an important step toward building a self-reliant nation. He explained that from the morning of Navratri itself, the new-generation GST will come into effect, marking the beginning of a GST savings festival across the country. This move aims to reduce expenses for citizens and enable the middle class to purchase more essential items.
PM Modi added that the benefits of GST reform would not be limited to the middle class alone. Small shopkeepers and business owners would also experience direct advantages, as the revised tax structure would encourage higher consumer spending. By reducing the burden on essential goods, the reform is expected to boost both household savings and retail trade simultaneously.
The Prime Minister concluded by noting that the government’s approach is centered on long-term economic stability, ensuring that every citizen, particularly the middle-income group, reaps the benefits of tax relief and simplified GST. He stressed that the reform would mark a significant turning point in shaping India’s future economy
