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by Suryaa |
Prime Minister Narendra Modi on Sunday announced the launch of a nationwide “GST Utsav” from the first day of Navratri on Monday, describing it as a festival of savings for the people of India. The initiative coincides with the implementation of new GST rates across the country.
Addressing the nation, PM Modi said that from September 22, citizens will be able to purchase a wide range of products at lower prices under the new GST framework. “Next Gen GST reforms being implemented from tomorrow, it is like a ‘GST saving festival’. From tomorrow, you will be able to buy your favourite items with ease. This is like a GST saving festival for every Indian,” he said.
The Prime Minister highlighted that the reforms will particularly benefit the poor and the emerging middle class, offering double advantages after the GST rate cuts. The new phase of reforms is expected to support common citizens, farmers, MSMEs, middle-class families, women, and youth.
The government had earlier announced GST rate reductions on September 3, covering a wide range of goods including automobiles, electronics, daily consumer items, and essential commodities. The new system, often called GST 2.0, introduces a simplified two-slab structure of 5 per cent and 18 per cent, with a 40 per cent rate applied only to super-luxury, sin, and demerit goods.
The reforms were approved by the GST Council during its 56th meeting, reflecting consensus between the Centre and state governments. PM Modi emphasised that the reforms represent cooperative federalism, aiming to make goods cheaper, boost consumption, support industry, and strengthen India’s economy.
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