PM Modi Launches Next-Generation GST Reforms:
Prime Minister Narendra Modi addressed the nation on 21 September 2025, unveiling Next-Generation GST reforms that come into effect from 22 September. Announcing the beginning of a “GST Bachat Utsav”, the Prime Minister emphasized that the new system will enhance savings for households, reduce costs of essential goods, and strengthen Aatmanirbhar Bharat by boosting MSMEs and local manufacturing.
Highlights of the Address
- New GST Structure: Only 5% and 18% slabs will remain.
- Lower Costs: Everyday items like food, medicines, soap, toothbrushes, toothpaste, health and life insurance will now attract either 0% or 5% tax.
- Savings Festival: Citizens expected to save over INR 2.5 lakh crore annually due to GST and income tax reforms combined.
- Support to MSMEs: Simplified tax structures to help small businesses, cottage industries, and entrepreneurs.
- Swadeshi Push: Citizens encouraged to buy and sell Made in India products to promote self-reliance.
