GST Bachat Utsav: Transforming Savings for Every Indian
Prime Minister Narendra Modi introduces next-generation GST reforms aimed at boosting savings across Indian society. The reforms promise lower tax rates and benefits for various sectors, ensuring reduced household expenses and supporting India's journey towards economic self-reliance by 2047. Modi emphasizes the importance of supporting locally made products.
- Country:
- India
Prime Minister Narendra Modi announced the commencement of next-generation GST reforms, envisioned to significantly boost savings for Indians. The reforms were launched through the 'GST Bachat Utsav', targeting direct benefits across society, from farmers and middle-class citizens to MSMEs.
Key features include reducing tax slabs mainly to 5% and 18%, with several essentials becoming cheaper or tax-free. Modi emphasized the opportunity these reforms present for economic growth and self-reliance, urging citizens to support local products.
Addressing a public meeting, Modi underscored the transformative impact of simplified GST on the Indian economy, highlighting its role in reducing costs, boosting business ease, and fostering a unified market. He extended his wishes for Navaratri, marking the season as one of savings and progress.
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