GST 2.0: A New Dawn for India's Economy
Prime Minister Narendra Modi introduced GST 2.0, promising reforms that simplify taxes and boost national growth. The new two-tier rate structure seeks to lower costs on essentials and stimulate the economy. Modi emphasized self-reliance and local products, alongside safeguarding youth via gaming regulations.
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- India
Prime Minister Narendra Modi has unveiled GST 2.0, heralding it as a transformative initiative for India's economy. With a promise of next-generation reforms, GST 2.0 aims to simplify taxes, lower costs on essential goods, and stimulate economic growth.
Revealing the new two-tier tax rate structure of 5% and 18%, Modi highlighted the significant savings for the common man. The reform is poised to lower prices on a range of consumer goods, from kitchen essentials to personal health insurance, removing previous high-tax barriers.
In addition to tax reforms, Modi advocated for self-reliance through 'vocal for local' campaigns and introduced regulations to ensure ethical gaming practices, positioning India for growth in the global gaming market. The initiatives aim to secure a prosperous future for the nation and its youth.
(With inputs from agencies.)
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