Prime Minister Narendra Modi on Thursday hailed GST reforms and slammed the previous Congress government for burdening the common people with taxes on simple goods like chocolates. Interacting with the National Awardee Teachers in New Delhi, PM Modi termed GST as one of the biggest economic reforms of independent India. The Prime Minister added that such reforms are a double dose of support and growth for the country. PM Modi also highlighted that the GST reforms will add ‘five gems’ to the Indian economy which is essential for country’s growth.
“On one hand, common people of the country will save money, and on the other hand, the country’s economy will be strengthened,” said PM Modi. The Prime Minister further added, “No one can forget how the Congress government had increased your monthly budget… They used to levy a 21% tax even on toffees for children. If Modi had done this, they would have pulled my hair out.”
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The Prime Minister said that GST reforms will add five gems to the Indian economy. “First, the tax stream will be simpler. The quality of life of the citizens of India will increase, consumption and growth will increase, the ease of doing business will boost investment and employment, and cooperative federalism will become stronger for a developed India…Another benefit for the youth is going to be in the fitness sector. Tax has been reduced on services like gym, salon, yoga, which means our youth will be fit as well as hit.”
PM Modi said that while the discussion around GST started before he became the Prime Minister, no work was done. “When GST was implemented eight years ago, the dream of many decades came true. This discussion did not start after Modi became the Prime Minister. These discussions used to happen before as well, but no work was ever done,” said PM Modi.
PM Modi said the GST has now become even simpler and on 22 September, which is the first day of Navratri, the next gen reform will be implemented as all these things are definitely related to the ‘Matrishakti’.
“Without timely changes, we cannot give our country its rightful place in today’s global situation. I had said from the Red Fort on 15 August this time that it is crucial to undertake next-generation reforms to make India self-reliant. I had also promised the countrymen that there would be a double blast of happiness before this Diwali and Chhath Puja…” said PM Modi.
The GST council on Wednesday ushered in new reforms by doing away with multiple tax slabs and introducing two-slab structure – 5% and 18%. Under the new norms, GST on many goods and services have been removed.Â