GST 2.0: Modi's Bold Move to Transform Indian Economy
Prime Minister Narendra Modi announced GST 2.0, a strategic move to lower tax rates by Diwali, reforming the eight-year-old tax regime. This aims to boost domestic consumption and make exports competitive by streamlining the GST structure. Industry leaders see it as a crucial step for economic resilience.
- Country:
- India
In a significant announcement from the historic Red Fort, Prime Minister Narendra Modi unveiled GST 2.0, aiming to bolster India's economic resilience through strategic tax reforms.
The revamped tax structure, set to lower rates by Diwali, targets daily essentials to enhance domestic consumption while encouraging global competitiveness.
Industry experts welcome the move, citing its potential to unlock working capital, support MSMEs, and align with the Atmanirbhar Bharat mission by creating jobs and fostering innovation.
(With inputs from agencies.)
Advertisement
Google News