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GST ‘savings festival’ begins today: PM
Business Standard
|September 22, 2025
In his 19-minute address to the nation, Modi implored the state governments to promote local manufacturing and ‘swadeshi’, stressing that only ‘Centre-states’ synergy would help fulfil the dream of aself-reliant India.
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Modi said the country’s micro, small and medium enterprises (MSMEs) will be the driver to make India self-reliant, a prerequisite for attaining the objective of a ‘developed and a prosperous India’. He said reduced goods and services tax (GST) rates and simplified procedures will benefit MSMEs, boost their sales and reduce their tax burden, but the quality of their products must meet the highest global standards.
The PM said any products that people need, and which can be manufactured within the country, must be produced domestically.
Modi said the “double bonanza’ of slashing of income tax and GST rates would lead to savings of 2.5trillion for the people, which is an evidence of his government’s commitment to the mantra “nagarik devobhava” (citizen is god).
This story is from the September 22, 2025 edition of Business Standard.
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