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Prime Minister Narendra Modi announced sweeping GST tax reforms set to take effect starting September 22, aimed at making daily essentials, medicines, and insurance more affordable for India’s consumers. In his key speech, PM Modi highlighted how these tax cuts will accelerate India’s economic growth, benefit the middle class and youth, and urged small-scale industries to align products with global standards, reinforcing the vision of a self-reliant India.
Key Highlights from PM Modi’s Speech:
Tax Cuts on Essentials and Medicines: The GST tax reform will substantially reduce tax rates on basic daily essentials, medicines, and insurance premiums. This reduction is expected to lower out-of-pocket expenses, easing the financial burden on households across the country.
Stimulus for Economic Growth: Modi emphasized that these reforms will accelerate economic growth by increasing disposable income for consumers, thereby boosting spending and demand in the domestic market. The government expects this to translate into higher production, job creation, and more vibrant economic activity.
Targeted Benefits for Middle-Class and Youth: The Prime Minister specifically mentioned that the middle class and youth will benefit most from the consumer tax cuts. By reducing costs on essential goods and services, the reforms aim to empower these groups financially, enabling greater participation in the economy.
Call for Small-Scale Industries to Go Global: Modi urged small-scale and micro-enterprises to innovate and produce goods that appeal to global markets. He stressed that Indian products should be competitive not only domestically but worldwide, aligning with the government’s push for ‘Make in India’ and exporting excellence.
Encouragement to State Governments: The Prime Minister appealed to state governments to focus fully on the ‘Self-Reliant India’ campaign (Atmanirbhar Bharat), emphasizing the importance of local production and self-sufficiency. States are encouraged to remove hurdles and promote entrepreneurship and innovation at regional levels.
Promotion of Domestic Products: Modi underscored the extensive use of foreign goods in Indian markets and urged citizens to actively choose ‘Made in India’ products. This initiative is aimed at strengthening local industries, creating jobs, and reducing import dependency.
Integrated Approach for Growth: The reforms and reform ideology signal a broader government approach combining fiscal policy, social welfare, and economic reforms to create a robust, inclusive ecosystem.
In summary, India’s new GST reform announced by PM Modi promises significant tax relief for essential goods and services, fueling consumption, supporting livelihoods, and accelerating the country’s economic resurgence. His call to action for small industries and states to aspire globally and embrace self-reliance aligns with a vision for a strong, competitive India on the world stage.
Sources: Press Information Bureau (PIB), Ministry of Finance India, Economic Times, Business Standard, ANI News (September 2025)
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