Day before GST rates revision, PM Modi pitches for `swadeshi` goods
A day before the revised Goods and Services Tax (GST) rates come into effect, Prime Minister Narendra Modi made a strong appeal for promoting swadeshi (indigenous) goods and highlighted the benefits of the next-generation GST reforms. Speaking on Sunday, he said these reforms would accelerate India’s economic growth, improve ease of doing business, and attract greater investment, according to a report by PTI.
In his address to the nation on Sunday evening, PM Modi announced the beginning of the “GST Utsav” from the first day of Navratri. He described this as a “double bonanza” for citizens, especially when paired with recent income tax exemptions. “From the first day of Navratri, the country will take a significant step towards Atmanirbhar Bharat,” he said.
With the dawn of September 22, the next-generation GST reforms will take effect, marking the start of the GST savings festival. The Prime Minister expressed optimism that the reforms would benefit a wide section of society, including the poor, middle class, neo-middle class, youth, women, traders, farmers, and shopkeepers. “Everyone’s happiness will increase this festive season,” he added.
PM Modi emphasised that all states are equal stakeholders in the country’s development journey and urged them to prioritise local manufacturing in line with the Atmanirbhar Bharat and Swadeshi movements. He also noted that the GST reform would particularly benefit micro, small, and medium enterprises (MSMEs), while making a wide range of goods and services more affordable — from kitchen essentials and electronics to medicines, appliances, and vehicles.
Reflecting on the past tax structure, the Prime Minister said that the earlier complicated web of multiple levies had caused hardships for both businesses and consumers. He praised GST for realising the vision of “One Nation, One Tax,” a landmark achievement since its introduction in 2017.
Referring to the recently announced income tax exemption for earnings up to Rs 12 lakh, PM Modi described the current moment as a double bonanza for the country’s working and middle classes.
### Key Details of the New GST Structure
– **Effective Date:** Monday, September 22
– **Items:** Over 375 items will attract reduced GST rates following the decision by the GST Council, which includes both central and state governments.
– **Tax Slabs:**
– Two main slabs: 5% and 18%
– 40% tax on ultra-luxury items
– Tobacco and other sin goods remain in the 28% + cess category
– **Previous System:** Four slabs — 5%, 12%, 18%, and 28%
### Some Goods Set to Become Cheaper
– **Daily Items:** Ghee, butter, paneer, namkeen, dry fruits, jam, ketchup, coffee, ice cream
– **Appliances:** TVs, air conditioners, washing machines
– **Others:** Medicines, basic electronics, and equipment
These reforms aim to simplify the tax regime and provide relief to consumers while boosting local manufacturing and economic growth.
*With inputs from PTI*
https://www.mid-day.com/news/india-news/article/pm-modis-address-to-nation-day-before-gst-rates-revision-pm-modi-pitches-for-swadeshi-goods-in-his-address-to-nation-23595108
