This Navratri is savings festival: Highlights of PM Modi's GST reform, Make-In-India speech

The Prime Minister announced that this day marks the implementation of a new phase of GST reforms, promising a significant positive impact on the lives of every citizen and setting the country on a path to accelerated growth and development.

Highlights from the PM's Speech on GST Reforms

• Next-Generation GST Reforms: Starting tomorrow, September 22nd, the next-generation GST reforms will be implemented, making essential goods cheaper.
• "GST Bachat Utsav" (GST Savings Festival): This reform is framed as a "savings festival," where consumers can afford their favorite things and benefit from reduced prices.
• Simpler Tax Structure: The new system will feature only two tax slabs, a significant simplification of the current structure.
• Benefits for Consumers: Many essential items, including medicine, food, and life insurance, will become cheaper. A major change is that 99% of products previously taxed at 12% will now have only a 5% tax.
• Boost for the Middle Class: The reforms offer a "double bonanza" for the middle and neo-middle classes, as the cost of building a home or purchasing items like TVs, refrigerators, and cars will be reduced. Travel expenses will also decrease.
• Economic Acceleration: These reforms are expected to accelerate India's growth, make business easier, ensure equitable development across all states, and attract greater investment.
• Fulfilling the "One Nation, One Tax" Dream: The Prime Minister declared that the long-standing dream of "One Nation, One Tax" is now fulfilled.
• Empowering MSMEs: Small and medium-sized enterprises (MSMEs) and cottage industries will benefit immensely, as they will be able to expand their businesses while paying less tax.
• "Nagrik Devo Bhabo" (Citizen is God): The government's motto is to serve its citizens, ensuring that what the nation manufactures is of world-class quality and a source of global pride.
• The Mantra of "Swadeshi": The speech emphasized the importance of self-reliance and "Swadeshi" (indigenous goods), with a call for citizens to choose Indian-made products over foreign ones. The Prime Minister stressed that this requires cooperation between the central and state governments to boost manufacturing.