Prime Minister Narendra Modi, in a nationally televised address, unveiled GST 2.0 — a landmark reform aimed at simplifying India’s tax system, boosting small businesses, and giving consumers more value for their money. Calling it a “festival of savings,” the Prime Minister framed GST 2.0 not just as a policy change but as a national movement to support Indian-made products and strengthen the Micro, Small, and Medium Enterprises (MSME) sector.
Simpler, Transparent, and Consumer-Friendly
The revamped Goods and Services Tax regime has reduced the existing four tax slabs to just two, streamlining compliance and eliminating confusion for businesses. PM Modi emphasized that this major overhaul is designed to make products cheaper, reduce administrative hurdles, and create uniformity across all sectors.
“GST 2.0 will not only save time and money for businesses but also put more money into the hands of ordinary Indians. This is a festival of savings for every citizen,” Modi declared, highlighting the consumer benefits of the reform.
Strengthening Indian Products and MSMEs
Linking the new GST framework to the Aatmanirbhar Bharat (self-reliant India) vision, Modi urged people to choose Indian-made products over foreign goods. “Every rupee spent on an Indian-made product strengthens our small businesses, creates jobs, and drives the economy forward,” he said.
The Prime Minister stressed that the simplified tax regime will cut compliance costs for MSMEs, improve their cash flow, and bring a larger number of small enterprises into the formal economy. This, he said, will help local businesses scale up, innovate, and compete globally.
A Step Toward Viksit Bharat 2047
With MSMEs contributing more than 30% of India’s GDP and employing millions, the new system is expected to be a game-changer for job creation and economic growth. Modi also linked GST 2.0 to the broader national goal of Viksit Bharat 2047 — the vision of a fully developed India in its centenary year of independence.
“GST 2.0 is not merely a tax reform but a civic responsibility. By supporting this change, we are investing in India’s future,” the Prime Minister concluded.
