NEW DELHI, Sept 21 – Indian Prime Minister Narendra Modi on Sunday called the upcoming Goods and Services Tax (GST) changes a “ne nixt-generation reform” that will bring relief to the middle class, youth, and consumers while accelerating India’s economic growth.
Speaking in a televised address at 5 pm, PM Modi said the revised GST rates, effective Monday, September 22, mark the start of a “GST Bachat Utsav” aimed at reducing the cost of living and boosting demand across sectors.
“This reform is not only about reducing prices but about creating new opportunities. The savings of our middle class will increase, our youth will benefit, and the entire economy will gain momentum,” Modi said.
He added that the reform fulfills the vision of ‘One Nation, One Tax’, replacing a complex web of state and central levies with a simplified system.
Under the revised GST structure, daily essentials, medicines, insurance, automobiles, and consumer goods will become cheaper. Finance Minister Nirmala Sitharaman had announced the cuts earlier this month, calling it the biggest indirect tax overhaul since GST’s rollout in July 2017.
Modi emphasized that rising household savings and increased purchasing power would boost consumption-driven growth, benefiting industries, agriculture, and services alike.
The Prime Minister did not address US President Donald Trump’s recent H-1B visa fee hike to $100,000, which has caused anxiety among Indian professionals. Instead, he focused on India’s economic roadmap, saying every state would be “an equal partner” in the nation’s growth story.
Trump Blasts India-Russia Ties: ‘They Can Take Their Dead Economies Down Together’