The central government has provided economic relief to the public by cutting GST rates. PM Modi stated at the International Trade Show in Noida that taxes would be further reduced and the economy is being strengthened.
New Delhi. The central government recently provided economic relief to the public by cutting GST rates. This step has been taken keeping in mind the country's growing economy and financial stability. By implementing this reduction, the government has attempted to simplify the lives of common people.
The new GST rates have been implemented starting September 22. Under this, taxes on various goods and services have been reduced. Following this relief, Prime Minister Narendra Modi, during the inaugural session of the UP International Trade Show in Noida, stated that taxes would be further lowered as the economy strengthens. He indicated that the process of GST reforms would continue uninterrupted.
PM Modi Gives New Indications
Prime Minister Modi said that in 2014, a purchase of one lakh rupees would incur approximately 25 thousand rupees in tax. Now, that same tax has been reduced to 5-6 thousand rupees. Taking a dig at Congress and its allies, he stated that they are lying to hide their failures.
PM Modi clarified that the government has increased people's income and savings. He said, "We will not stop here. As we continue to strengthen our economy, we will continue to reduce taxes." This indicates that further reductions in GST rates may be possible in the future.
Continuous Process of GST Reforms
The Prime Minister informed that the process of GST reforms is continuously ongoing. The government's objective is to make the tax system simple and transparent. He stated that this step would not only provide economic relief to the people but also benefit the industry and business community.
PM Modi also stated that the government's policy includes ensuring long-term economic stability. Under this, changes and continuous improvements will be made to the tax system to facilitate traders and the general public.
Towards Self-Reliant India
On this occasion, Prime Minister Modi also emphasized India's self-reliance. He stated that a country like India should not depend on anyone. The Prime Minister explained that the country will no longer rely on other nations for its development.
He said that through self-reliance, India is strengthening its foundation for the upcoming decade. In these changing times, if the country relies on others, its growth will be affected. PM Modi also stated that while the world is currently facing uncertainty and disruption, India is achieving attractive growth.
Impact of Tax Cut
PM Modi informed that the reforms undertaken in previous years have directly benefited the public. While significant taxes were levied on large purchases in 2014, ordinary consumers now face a lighter burden.
PM Modi's Message at UP International Trade Show
Addressing traders and industrialists at the UP International Trade Show held in Noida, Prime Minister Modi stated that India's economy is b. By adopting people-centric policies, India has strengthened its economic direction. Through tax cuts and GST reforms, the government has ensured that both common people and industries benefit.
