Prime Minister Narendra Modi has termed the rationalization of the Goods and Services Tax (GST) as the most significant reform since India gained independence. He stated that this change aims to benefit the middle class by reducing taxes on a variety of goods and eliminating charges on essential items such as bread and life-saving medications.
During a recent interaction with award-winning teachers in New Delhi, Mr. Modi announced that the new tax structure, featuring two tax slabs, will take effect on September 22, coinciding with the start of the Navratri festival. He expressed optimism that citizens would see advantages from the very first day of Navratri, making this Dhanteras more vibrant than in previous years. He recalled his promise of a “double dhamaka” of advanced GST reforms ahead of Diwali and Chhath, made from the historic Red Fort.
The Prime Minister emphasized the necessity of timely reforms for India’s place in the global arena. He described the GST changes as incorporating a framework known as the “Panch Ratna” — which translates to “five gems” — focusing on a simplified tax system, an improved quality of life for citizens, a boost in consumption and economic growth, increased investment opportunities and job creation through enhanced ease of doing business, and the strengthening of cooperative federalism for a developed India.
The GST rationalization, recently announced by the GST Council, significantly reduces tax rates on several categories, including food, pharmaceuticals, essential goods, agricultural products, green energy, and small vehicles. Key items, like life and medical insurance, along with essential food products such as dairy and bread, will no longer be subject to taxation.
Original Source: https://www.newsonair.gov.in/pm-modi-describes-gst-rationalisation-as-biggest-reform-of-independent-india/
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Publish Date: 2025-09-05 07:15:00
