Prime Minister Narendra Modi on Friday announced that next-generation reforms in the Goods and Services Tax (GST) will be introduced by Diwali, offering ‘substantial’ tax relief to the common man and boosting small and medium enterprises (MSMEs).
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Speaking on the 79th Independence Day from the Red Fort, Modi said it was time to reform GST, which has completed eight years since its rollout on July 1, 2017, subsuming multiple indirect taxes and local levies.
“We have discussed with states and will usher in next-generation GST reforms by Diwali, which will be a Diwali gift for citizens. Taxes on items used by the common man will be reduced substantially. Our MSMEs will benefit hugely. Daily-use items will become cheaper, which will also strengthen our economy,” he said.
A Group of Ministers (GoM), including state finance ministers, is already deliberating on rate rationalisation and the pruning of GST slabs.
Modi also said a task force will be set up to recommend all necessary GST reforms in a time-bound manner for the 21st century.
The prime minister also highlighted the growing contribution of women in India’s economic and social progress, saying, “Every sector now proudly acknowledges the strength of our nari shakti.”
Modi also said a task force will be set up to recommend all necessary GST reforms in a time-bound manner for the 21st century.
The prime minister also highlighted the growing contribution of women in India’s economic and social progress, saying, “Every sector now proudly acknowledges the strength of our nari shakti.”
“From start-ups to the space sector, from the playing fields to the armed forces, our daughters are making their mark. Today, with pride, women stand shoulder to shoulder in the country’s journey of development,” he said.
He recalled the pride felt across the nation when the first batch of women cadets graduated from the National Defence Academy (NDA). “The whole country was filled with pride at that historic moment,” he said.
Modi also praised the transformative role of self-help groups (SHGs) and referred to the initiative of ‘NaMo Drone Didi,’ which has given rural women a new identity. Narrating one story, he said, “In a village, a sister told me that people now call her a pilot. She proudly said that though she was not highly educated, her stature had grown.”