Reforms no longer tied to any crisis, now driven by nation first: PM on tax cuts | Watch
"In each sector, there is improvement. Our speed is constant, direction is consistent, intent is nation first,” PM Narendra Modi said at HT Leadership Summit
Prime Minister Narendra Modi on Saturday said positive changes in the tax structure and other such reforms are no longer “reactionary” but driven by the “idea of nation first”. “This was unthinkable a decade ago,” the PM said in his address at the Hindustan Times Leadership Summit 2025 in New Delhi.
On how reforms were approached earlier, he said, “It was either for some political interest or to manage a crisis, but now national growth is the driving factor. In each sector, there is something improving. Our speed is constant, direction is consistent, and intent is nation first.”
He cited the year 2025 as a big example.
“The biggest reform this year is the next-generation GST. The result is evident. The direct tax system was also reformed majorly. Now there’s zero tax on income up to ₹12 lakh a year,” he underlined, speaking in Hindi.
He placed the India of today in a global context too.
“We are at a juncture, when one-fourth of the 21st century has passed and the world has seen many ups and downs — financial crisis, global pandemic etc. These situations in some way or the other challenged the world," he said.
"Today, the world is full of uncertainties, but amidst this our India is appearing in a different league,” he added.
'Space sector an example of transforming India'
PM Modi cited India’s space sector as another example of how the country has been transforming fast over the past decade. “The government has provided the platform, and the youth of India is building the future,” he said.
“Just 10-11 days ago, in Hyderabad, I inaugurated the ‘Infinity Campus’ of Skyroot Aerospace,” he said, mentioning a new facility of the space startup. “This is a private company, working towards producing a rocket every month.”
“Earlier, the space sector was in government control. We (BJP-led NDA government) opened it to the private sector as a reform. India is seeing its results,” he added, remarking that this is in line with the theme of HTLS 2025, ‘Transforming Tomorrow’.
In her welcome speech for the PM, HT Chairperson and Editorial Director Shobhana Bhartia congratulated Narendra Modi for two major landmarks this year. “In October, he completed 25 years as head of a government — as CM of Gujarat from 2001 to 2014, and as PM from 2014 onwards. He also celebrated his 75th birthday in September,” she noted.
The summit saw senior ministers S Jaishankar and Nirmala Sitharaman, and Delhi CM Rekha Gupta, answering pertinent questions. Actors Hugh Grant and Aamir Khan, besides tech industry leaders and policy experts, were among those who were part of interactive sessions at HTLS 2025.
