Prime Minister Modi made a significant announcement from the Red Fort today, stating that this Diwali, the people will receive a double gift. He highlighted the major GST reforms undertaken in the last eight years, aimed at reducing the tax burden across the nation.
PM Modi stated, 'We have simplified the tax system. Over the past eight years, we have initiated substantial GST reforms and reduced the tax burden nationwide. We are introducing the next generation of GST reforms.'
PM Modi further mentioned, 'After eight years, it was necessary for a review, and thus we formed a high-powered review committee which has started its evaluation. Consultations have been held with the states. We are bringing next-generation GST reforms. These will be a gift for you this Diwali. Taxes on essential human needs will be significantly reduced. Our MSMEs and small industries will greatly benefit, and everyday items will become much more affordable. This will also provide a new momentum to the economy.'
Read also: '50-60 years ago, semiconductor files were stalled, delayed, and misdirected,' stated PM Modi from the Red Fort.
Major Declaration on Semiconductors
Prior to this, PM Modi addressed semiconductors, saying, "We are now freed from previous burdens and are working in mission mode on semiconductors. Six new semiconductor units are now operational, and four have been given the go-ahead, with 'Made in India Chips' set to hit the market by the end of this year. This marks a new era of India's technological prowess."
