PM letter harps on self-reliance

PM Modi on Monday said the next generation GST reforms will boost savings and directly benefit every section of society, as he emphasised on walking on the path of self-reliance to achieve the collective goal of Viksit Bharat by 2047.

- Agencies

In an open letter to Indians posted on X, he said from September 22, GST reforms have begun to make their presence felt, marking the start of a 'GST Bachat Utsav'. "This year, the festive season brings an added reason to rejoice. These reforms will boost savings and directly benefit every section of society, be it farmers, women, youth, poor, middle class, traders or MSMEs. They will encourage greater growth and investments and accelerate the progress of every state and region."

An important feature of the next generation GST reforms is that there will mainly be two slabs of 5 per cent and 18 per cent, he said.

"Daily essentials such as food, medicines, soap, toothpaste, insurance and many more items will now either be tax-free or fall in the lowest 5% tax slab. Goods that were earlier taxed at 12% have almost entirely shifted to 5%. It is greatly heartening to see various shopkeepers and traders putting up then and now boards which indicate taxes pre-reforms and post-reforms," Modi said in his letter to the people.