Is India’s hardworking middle class the backbone of our growth journey? PM Modi reflects on GST reforms
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Synopsis
Prime Minister Modi emphasizes the crucial role of India's middle class in the nation's growth story, particularly through transformative GST reforms. The changes will enhance affordability for essential goods and strengthen the backbone of the economy—small businesses. Discover how these reforms align with India's vision of financial security and healthcare access for all.
Key Takeaways
- GST reforms will enhance affordability of essential goods.
- Small businesses are vital for economic growth.
- New tax slabs of 5% and 18% simplify compliance.
- The reforms aim for financial security for all citizens.
- India is moving towards a Swasth and Samarth Bharat.
New Delhi, Sep 4 (NationPress) Prime Minister Narendra Modi expressed that India’s diligent middle class is pivotal to the nation's growth narrative.
In a post shared by Dixon Technologies Chairman Sunil Vachani, the Prime Minister underscored how the new Goods and Services Tax (GST) reforms are set to make vital products and appliances, such as TVs and air conditioners, more affordable for the public.
“Through historic income tax reductions and now #NextGenGST reforms that make items like TVs, ACs, and daily essentials more accessible, we are dedicated to improving the ease of living and fulfilling the dreams of millions of families,” PM Modi announced on the social platform X.
The Prime Minister referred to the GST rationalization as a transformational opportunity for manufacturers.
He mentioned that the newly simplified tax slabs of 5 percent and 18 percent, combined with decreased input costs and expedited digital compliance, will enhance demand for ‘Made in India’ products.
Moreover, PM Modi placed significant emphasis on the role of small businesses in the economy, highlighting that MSMEs are the foundation for India’s economic growth and job creation.
“From easier credit facilities to expanded market access, each reform aims at empowering small and medium enterprises. The recent GST adjustments build on this progress by rationalizing rates, simplifying compliance, and supporting businesses throughout India,” stated Prime Minister Modi.
He also linked these reforms to India’s broader objective of ensuring financial security and access to healthcare for all citizens.
The Prime Minister noted that making life and health insurance more affordable under the revamped GST framework represents a significant stride towards realizing the vision of ‘Insurance for All by 2047.’
“Together, we are advancing towards a Swasth and Samarth Bharat,” added Prime Minister Modi.
Earlier, Sunil Vachani, Chairman of Dixon Technologies, applauded the reforms, extending congratulations to the Prime Minister, Finance Minister, GST Council, and the industry association CII.
He stated that these changes would not only facilitate business operations but also propel India’s manufacturing objectives forward.
The implementation of GST 2.0 is perceived as a pivotal reform that integrates tax rationalization, enhances living standards, and bolsters business operations, all with the aim of fortifying India’s growth narrative.
Point of View
I believe that PM Modi's focus on the middle class and small businesses is a strategic move. The GST reforms are essential for fostering a robust economy and should be supported to ensure that every citizen benefits from India's growth momentum.
NationPress
04/09/2025
Frequently Asked Questions
What are the new GST reforms introduced by PM Modi?
The new GST reforms include simplified tax slabs of 5% and 18%, aimed at making essential goods more affordable and boosting manufacturers' competitiveness.
How will the GST reforms benefit the middle class?
The reforms will lower the prices of everyday essentials like TVs and air conditioners, enhancing the ease of living for the middle class.
What is the significance of small businesses in India's economy?
Small and medium enterprises are crucial for job creation and economic growth, and the reforms aim to strengthen their position through easier credit and market access.
What is the goal of 'Insurance for All by 2047'?
This vision aims to ensure that all citizens have access to affordable life and health insurance, contributing to overall financial security.
How does GST 2.0 relate to India's manufacturing agenda?
GST 2.0 is designed to facilitate ease of doing business and boost the manufacturing sector by rationalizing tax rates and simplifying compliance.
