By Megha Rawat
Copyright timesnownews
Prime Minister Narendra Modi on Monday marked the start of Navratri with a call to embrace the spirit of self-reliance, urging citizens to blend festive celebrations with economic nationalism. In a post on X, the Prime Minister said that the ongoing GST Savings Festival aligns with the Swadeshi mantra, describing this Navratri as a “special occasion” to renew the collective resolve for a self-reliant India. “This time, this auspicious occasion of Navratri is very special. Along with the GST Savings Festival, the mantra of Swadeshi is going to receive a new energy during this period. Let us come together in collective efforts for the fulfillment of the resolve for a developed and self-reliant India,” said Prime Minister Narendra Modi in a post on X. Earlier on Sunday while addressing the nation, Prime Minister Narendra Modi spoke regarding the introduction of GST 2.0, a complete overhaul of India’s Goods and Services Tax regime, from September 22. While speaking, he described the reform as a ‘GST Utsav’, a celebration of savings that promises to ease tax burdens, support consumption, revive economic momentum and ease of doing business especially for MSMEs. “GST 2.0 is a GST Bachat Utsav. It will empower our youth, women, farmers, entrepreneurs, and MSMEs,” Modi said in his televised address. Also Read | PM Modi’s GST Utsav: Will It Be A Gamechanger For India’s MSMEs? Here’s What You Need To Know PM Modi said that the newly implemented GST revisions could collectively save businesses and consumers nearly Rs 2.5 lakh crore. He noted that the streamlined tax structure under GST 2.0 is designed to enhance economic productivity and reduce the financial pressure on everyday citizens. Soaps, powder, coffee, diapers, biscuits, ghee, oil to be cheaper Daily essentials and food products will be cheaper from Monday, as leading FMCG companies have slashed prices, extending GST cut benefits to consumers. FMCG companies have extended benefits of GST 2.0 with immediate reduction on price without any disruption, along with some discounts for festivals as they expect to enter a new growth phase after facing a few challenging quarters that saw persistent food inflation and slow pace of urban consumption.Besides, firms operating in the food verticals have also slashed prices on products as snacks as namkeen and bhujia to sweets, coffee, tea, butter, ghee, ice-cream, chocolates, etc. The makers have dispatched products with revised MRP tags to inventories of distributors, warehouses of e-coms and shelves of traditional kirana stores, absorbing the tax gap. Moreover, existing stocks in the market have been aligned with revised new goods & service tax (GST) structure through special trade discounts and QPS schemes. For all the latest news and india news, visit Times Now to get live updates and breaking news around the world.
