Prime Minister Narendra Modi, in his Independence Day address from the Red Fort on Friday, announced.
That the government will roll out “next-generation GST reforms” by Diwali, aimed at reducing tax burdens and simplifying compliance for households and small businesses. He said the reforms would rationalise GST slabs, lower rates on essential and daily-use goods, and make the system more transparent and business-friendly. “This Diwali, we will bring GST changes that lower prices, ease trade, and boost compliance — a massive gift for our citizens,” Modi said in his 12th consecutive Independence Day speech.
The Prime Minister added that the reforms will particularly benefit micro, small, and medium enterprises (MSMEs) by cutting costs and streamlining processes, while also supporting overall economic growth and consumption.
Introduced in 2017, GST has often been criticised for its complexity. Modi’s announcement sets the stage for the GST Council to discuss and finalise changes ahead of the festive season. The pledge comes alongside other economic priorities in his speech, including infrastructure expansion, a manufacturing push, and a roadmap to make India a developed nation by 2047.
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