GST Reforms Herald 'Bachat Utsav' Savings Bonanza Across India

Prime Minister Narendra Modi declared the onset of next-generation GST reforms aimed at catalyzing savings for all sections of society. Speaking to the nation, Modi emphasized that the 'GST Bachat Utsav' marks a pivotal shift towards simplifying the tax system and providing economic relief on household essentials.

The reforms introduce two primary GST slabs of 5% and 18%, lowering taxes on everyday items like food and medicines. Modi expressed optimism that these changes would not only enhance purchasing power but also spur entrepreneurial growth, particularly benefiting small businesses and MSMEs by easing compliance demands.

In light of these reforms, Modi urged citizens to embrace 'Aatmanirbhar Bharat' by opting for Swadeshi products. The Prime Minister's appeal during the festive 'GST Bachat Utsav' articulates a vision of a developed India by 2047, facilitated by self-reliance and robust local manufacturing.