By Priya Raghuvanshi

Copyright timesnownews

As the nation welcomes the auspicious festival of Navratri, Prime Minister Narendra Modi extended his heartfelt greetings to citizens across India, wishing them health, happiness, and prosperity. In a letter to Indian citizens shared on X on Monday, PM Modi also announced the launch of the Next Generation GST reforms, which came into effect from September 22nd, marking the start of a nationwide ‘GST Bachat Utsav’ or ‘GST Savings Festival.’ The Prime Minister stressed that these reforms aim to directly benefit every section of society, including farmers, women, youth, the poor, middle class, traders, and MSMEs. The new GST structure simplifies the tax system by primarily operating with two tax slabs, 5 per cent and 18 per cent. Essentials such as food, medicines, soap, toothpaste, and insurance will either be exempt or taxed at the lower 5 per cent slab. Products previously taxed at 12 per cent have largely been shifted to 5 per cent, promising significant savings for consumers. PM Modi noted the positive response from shopkeepers and traders across the country, who have started displaying ‘then and now’ boards to showcase the tax reductions post-reforms. He also highlighted India’s recent progress, mentioning that 25 crore people have risen above poverty to form an aspirational neo-middle class. Coupled with recent income tax cuts, providing zero tax liability up to an annual income of Rs 12 lakh, the combined savings for the public are estimated at nearly Rs 2.5 lakh crore. Reducing the Financial Burden“These reforms will reduce household expenses and make it easier to fulfil aspirations such as buying a home, a vehicle, appliances, dining out, or planning a family vacation,” PM Modi said, reinforcing the government’s commitment to ease the financial burden on citizens. The Prime Minister reflected on the GST journey since its inception in 2017, which unified the nation under the principle of ‘One Nation, One Tax,’ simplifying indirect taxation and promoting economic integration. He credited the GST Council, comprising the Centre and States, for making numerous pro-people decisions. ‘Aatmanirbhar Bharat’ Mission Looking ahead, PM Modi stressed that the new GST reforms will further simplify the system, lower tax rates, and enhance ease of doing business and compliance—especially benefiting small industries, shopkeepers, traders, entrepreneurs, and MSMEs. The government’s vision for a ‘Viksit Bharat by 2047’ relies heavily on self-reliance, and these reforms aim to strengthen local manufacturing and promote the ‘Aatmanirbhar Bharat’ mission. In a call to action, PM Modi urged citizens and businesses to support ‘Made in India’ products this festive season. “Buying Swadeshi products supports the hard work of Indian artisans, workers, and industries, creating jobs and sustaining families,” he said. He appealed to shopkeepers and traders to proudly sell Swadeshi goods and encouraged state governments to foster a favourable climate for industry and investment.