PM Modi: GST Reforms a Double Bonanza for Citizens, Boost to Cooperative Federalism
Prime Minister Narendra Modi has described the latest GST reforms as a "double bonanza" for the common people and a significant step towards strengthening cooperative federalism. He emphasized the need for timely reforms to position India appropriately on the global stage and underscored the importance of next-generation reforms for a self-reliant India.
Speaking on September 4, PM Modi said that to ensure India's rightful place globally, changes with time are essential. Referring to GST reforms, he stated, “Without timely reforms, we cannot give our nation the place it deserves in the global scenario. I mentioned this in my Independence Day address, stressing the need for next-gen reforms for Atmanirbhar Bharat.”
“GST Has Become Even Simpler”
PM Modi announced that the GST system has now been simplified even further. The next phase of reforms will be implemented on September 22, coinciding with the first day of Navratri, which he linked to the significance of “Shakti” or feminine power in Indian tradition.
“Diwali Festivities Will Be Even Brighter”
He added that this year’s Dhanteras celebrations will be more vibrant, as taxes on dozens of items have been significantly reduced. Recalling the inception of GST eight years ago, he said it fulfilled a decades-old dream and was one of independent India's largest economic reforms.
Who Benefits from GST Reforms?
According to the Prime Minister, GST 2.0 is a “double dose of support and growth” for the country. These reforms will benefit every household — from the poor and neo-middle class to students, women, farmers, and youth — by reducing GST on essential items.
“Five Jewels Strengthening India’s Economy”
PM Modi outlined five key advantages of the GST reforms, calling them the Panchratnas of the Indian economy:
- A simplified and transparent tax system
- Improved quality of life for citizens
- A new boost to consumption and economic growth
- Enhanced ease of doing business, leading to more investments and jobs
- Stronger cooperative federalism to build a developed India