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A day before the implementation of the much-awaited GST 2.0 rate cuts, Prime Minister Narendra Modi said, in an address to the nation, that the next-generation indirect tax cuts will boost investments while enhancing savings and happiness. *Navratri begins tomorrow. From the first day of Navratri, the country will take a step towards Atmanirbhar Bharat (self-reliant India),” said the Prime Minister.
The PM said that his government’s decisions to raise the income tax exemption limit and to introduce GST 2.0 reforms will cumulatively save Rs 2.5 lakh crore in the hands of the people. He also said that the next-generation GST reform is in light of the nation’s current requirements and future aspirations.
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GST 2.0 will accelerate nation’s growth story
It will make it easier to do business
Investments will become more attractive
It will provide every state a level-playing field for development
India embarking on GST reform in 2017 marked the onset of changing history and creating a new one
For decades, our country’s people and our country’s traders were entangled in a web of various taxes
Octroi, entry tax, sales tax, excise, VAT, service tax… Dozens of such taxes existed in our country
We had to cross countless checkpoints to send goods from one city to another
In 2014, when the nation entrusted me with the responsibility of PM, an interesting incident was published in a foreign newspaper
It described the difficulties of a company in sending goods from Bengaluru 570 km away, to Hyderabad
It was said that it was rather easier for it to send goods from Bengaluru to Europe and then send the same goods from Europe to Hyderabad
Friends, this was the situation at that time due to the complexities of taxes and tolls
Millions of such companies and millions of countrymen faced daily problems due to the mesh of various taxes
The increased expenses incurred in transporting goods from one city to another were borne by the poor
Customers like you were charged
It was essential to free the country from this situation
Because of these reforms, consumers are free from complicated taxes
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