Double dose of support: Modi hails GST reforms

Prime Minister Narendra Modi on Thursday hailed the GST 2.0 reforms as a “double dose of support” for the economy, saying the changes were designed to bolster India’s progress in the 21st century.

His remarks came a day after the GST Council approved a significant overhaul of the tax regime.

During an interaction with National Teacher awardees, PM Modi said these reforms represented five key improvements or “panch ratna” (five gems) for the Indian economy. He noted that the GST system had been further simplified, with only two-slab tax rates of 5 per cent and 18 per cent set to take effect from the first day of Navratri (September 22).

He said without timely updates, the country could not secure its rightful place in the global landscape. “In my Independence Day speech this year, I stressed the importance of next-generation reforms to make India self-reliant. I also promised the people a ‘double blast’ of happiness before Diwali and Chhath Puja,” he said.

The PM said during the previous Congress regime, even basic household items were heavily taxed, while the current government had worked to address these issues for the benefit of the common man.

He said the updated GST structure would improve quality of life, boost consumption and strengthen economic growth. The reduced tax rates, he said, would help poor families, the neo-middle class, women, students, farmers and the youth.

PM Modi also praised the teachers for their essential role in nation-building, saying their influence extends beyond the classroom as they help shape character and inspire curiosity in the youth.

He encouraged students to consider how they could contribute to fulfilling at least one need of the nation, underscoring the importance of everyone's role in national progress.