PM Modi said that the government has taken a “big and significant decision”, with GST becoming more simplified. Prime Minister Narendra Modi on Thursday hailed the GST 2.0 reforms as a ‘double dose’ for the country’s economy, saying that the taxation has become even more simple and beneficial for every section in the country.
He said that the “next-generation” of changes will strengthen the economy and ease compliance for citizens. The prime minister’s reaction comes a day after the GST Council approved two tax slabs – to 5 per cent and 18 per cent – for most of the goods, as against the previous four tax slabs. The new tax system would come into effect from September 22, the first day of Navaratri.
PM Modi said that the Centre, along with the states, had taken a “big and significant decision”, making the Goods and Services Tax (GST) more simplified. “The GST has become more simple and easy. there are two rates left in GST- 5 and 18 per cent,” PM Modi said.
The Prime Minister said that GST 2.0 is a “double dose” for the country’s support and growth, adding that the “next generation GST reforms” would be implemented on September 22, the first day of Navratri. Modi said that he had promised “a double dhamaka of happiness before this Diwali and Chhath Puja” during his speech on Independence Day. Interacting with the teachers who have been granted National Awards, PM Modi stated that the GST reforms had been brought about to support India’s progress in the 21st century.
Hailing the GST reforms, PM Modi said that the poor, neo middle class, middle class women, students, farmers and youth would particularly benefit from the decision. He further said that these would lead to “ease of doing business”, and boost employment and investments.
PM Modi added that the quality of life of the citizens would see an improvement, with consumption and growth getting a renewed push in the aftermath of the reforms. He said that five new gems (panch ratna) had been added to India’s vibrant economy through GST reforms, adding that these would strengthen cooperative federalism to facilitate building a developed India.
After the decision was announced by the GST council, led by Finance Minister Nirmala Sitharaman, on Wednesday, PM Modi took to social media platform X to hail the reforms. “Glad to state that @GST_Council, comprising the Union and the States, has collectively agreed to the proposals submitted by the Union Government on GST rate cuts & reforms, which will benefit the common man, farmers, MSMEs, middle-class, women and youth,” the Prime Minister said in a post on X.
“The wide ranging reforms will improve lives of our citizens and ensure ease of doing business for all, especially small traders and businesses,” he added.
