PM Modi says 'swadeshi goods will power India's growth' as GST reforms take effect

Announces 'GST bachat utsav, calling it a festival benefiting poor, middle class, farmers, women, traders, and youth

- OUR CORRESPONDENT

Prime Minister Narendra Modi on Sunday hailed the rollout of India's next-generation Goods and Services Tax (GST) reforms, set to take effect from Monday, describing it as a major step towards strengthening the nation's economic self-reliance.

Speaking on the eve of Navratri, Modi said the reforms would benefit consumers and businesses alike, while promoting indigenous products as a driver of prosperity.

Addressing the nation in a 19-minute broadcast, Modi described the new GST rates as the beginning of a "GST bachat utsav" or savings festival. He said the reduction in tax rates across a wide range of products would make essential and aspirational goods more affordable, providing relief to households across income groups.

"This is an important step for Atmanirbhar Bharat. With the sunrise tomorrow, the next-generation GST reforms will come into effect," the prime minister said. He urged citizens to embrace swadeshi goods, asserting that supporting locally made products would strengthen the economy in the same way the freedom movement drew strength from indigenous industries.

Modi highlighted that these reforms, coming months after the government raised the income tax exemption for annual earnings up to Rs 12 lakh, would create a "double bonanza" for citizens. "People will save Rs 2.5 lakh crore from these twin initiatives," he said, noting that the measures would reduce daily expenditures and enhance savings.

The prime minister also called on state governments to foster an environment conducive to investment and manufacturing.

He underlined that collaboration between the Centre and states was key to realising the vision of a self-reliant India.