GST 2.0 reforms part of decade-long transformation of India’s economic landscape: PM Modi

New Delhi, Sep 4 Prime Minister Narendra Modi said on Thursday that the last decade has been about bold reforms aimed at transforming India’s economic landscape, from corporate tax cuts that spurred investment, to GST creating a unified market, to personal income tax reforms enhancing Ease of Living.

Interacting with social media users on X and responding to posts by economists, corporate employees and middle-class people on GST 2.0 reforms, PM Modi said, “The #NextGenGST Reforms continue this journey, making the system simpler, fairer and more growth-oriented, while our fiscal discipline has earned global confidence and better credit ratings. With these efforts, we are laying a strong foundation for a Viksit Bharat.”

Reflecting on GST 2.0 reforms that he announced during his address from the Red Fort on August 15, followed by the GST Council's approval of a simplified two-tier GST rate structure on Wednesday, PM Modi justified the highest rate slab for tobacco and junk food items.

He wrote on X, “The #NextGenGST measures reflect the vision of 'Swasth Bharat' by making essential food items, cooking essentials and protein-rich products more affordable for families across India.”

Together, with initiatives like Ayushman Bharat and POSHAN Abhiyaan, these reforms strengthen our commitment to better health, balanced nutrition and improved quality of life for every citizen, he wrote in his post.

Responding to a congratulatory post by Amul Cooperative over the GST reforms, PM Modi said, “The contribution of our Annadatas has been pivotal in strengthening India’s rural economy and ensuring nutritional security for millions. Through initiatives like the Rashtriya Gokul Mission, support for cooperatives and continuous reforms, our government remains committed to transforming India’s dairy sector.”

He said, “The #NextGenGST reforms are another step towards empowering lakhs of dairy farmers, boosting value addition and making dairy products more affordable for every household.”

In a message to manufacturers, the PM said, “#NextGenGST is a game-changer for manufacturers. Lower input costs with simplified slabs of 5 per cent and 18 per cent faster digital compliance and rising demand will give a big boost to ‘Made in India’ products.”

Reaching out to the middle class, PM Modi said, “India’s hardworking middle class is at the heart of our growth journey. Through historic income tax cuts and now #NextGenGST reforms that make products like TVs, ACs and everyday essentials more affordable, we are committed to enhancing ease of living and supporting the aspirations of crores of families.”

He hailed the role of MSMEs in the Indian growth story, saying, “MSMEs are the backbone of our economy, creating jobs and driving growth. From easier credit to wider market access, every reform has been aimed at strengthening small and medium businesses. The latest GST changes build on this momentum by rationalising rates, simplifying compliance and boosting enterprises across India.”

Responding to the government’s bold steps in the insurance sector, PM Modi wrote, “Affordable healthcare for every Indian has always been our mission. From Jan Aushadhi Kendras to Ayushman Bharat, and now with reduced GST on essential health products, including zero tax on 33 life-saving medicines, we continue our journey to make quality healthcare more accessible and affordable for all.”

“Over the years, we have strived to ensure financial security and healthcare access for every citizen. The next-generation GST reforms, which make life and health insurance more affordable, mark another important milestone in our mission of ‘Insurance for All by 2047.’ Together, we move towards a Swasth and Samarth Bharat,” he said.

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