PM Modi says GST reforms will accelerate India’s growth story
As the reduced GST rates come into effect today, Prime Minister Narendra Modi on Sunday made a strong pitch for promoting ‘swadeshi’ goods and asserted that the next generation GST reforms will accelerate India’s growth story, increase ease of doing business and attract more investors.
In his address to the nation, Modi said a ‘GST bachat utsav (savings festival)’ will begin from the first day of Navratri, and coupled with the income tax exemption, it will be a “double bonanza” for most of the people.
PM Modi stressed all states will be equal stakeholders in the development race and urged them to give pace to manufacturing with ‘Atmanirbhar Bharat’ and swadeshi campaigns in mind.
“On the first day of Navratri, the country is going to take an important and big step for Atmanirbhar Bharat. With the sunrise tomorrow, the next generation GST reforms will come into effect. A ‘GST bachat utsav (savings festival)’ will begin tomorrow.
“You will be able to buy things you like more easily. The poor, middle class, neo middle class, youths, farmers, women, traders and shopkeepers will benefit from this,” he said.
In this season of festivals, everyone’s happiness will increase, Modi said.
He congratulated all on the next generation GST reforms.
“These reforms will accelerate India’s growth story, increase ease of doing business and attract more investors,” Modi said.
When India took a step towards GST reforms in 2017, a new beginning was made to script history, he said.
He said GST realised the ‘one nation-one tax’ dream.
Modi highlighted how the web of taxes and tolls had created hardships for businesses and consumers.
Citing income tax exemption on earnings up to Rs 12 lakh and GST reforms, he said it is a “double bonanza” for the poor, neo-middle class, and middle class.