PM Modi Address: First Day Of Navratri Will Spur 'GST Bachat Utsav', Indians Should Buy Local

PM Modi addressed the country on the eve of the GST reform implementation. In a nearly 20 minute speech, the PM kept his focus on the benefit consumers will enjoy from rate cuts, implored people to buy locally-made goods and encouraged Indian MSMEs to build quality products and take advantage of reforms.

• The "Next Gen GST Reforms" are a significant step towards India's goal of 'Aatmanirbharta' (self-reliance).

• The reforms will simplify indirect taxes, which have burdened Indians for decades, and remove trade barriers between states.

• GST reforms will attract new investments and improve the ease of doing business.

• 99% of products previously taxed at 12% will now be taxed at 5%, making everyday essentials more affordable for all citizens.

• The tax reform will provide a total benefit of Rs 2.5 lakh crore and will boost household incomes.

• Shopkeepers and industry are working to pass on the full benefits of the GST cuts to consumers.

• MSMEs are seen as key contributors to the Aatmanirbhar goal.

• Indians should produce and buy 'swadeshi' products.

PM Narendra Modi implored Indians to buy locally-made products and help Indian businesses to grow and thrive.

"Every Indian should be proud to 'buy Swadeshi'. That message should go out to every corner of India. Every shop must sell swadeshi products to make our 'Atmanirbhar Bharat' mission a reality."

PM Modi said Indian MSMEs will benefit immensely from the GST rate cuts and simplification.

"We have to regain our pride in locally manufactured products. Our quality should be world-class. Our MSMEs will benefit from GST cuts," PM Modi said.

India suffered economically before the GST reforms in 2017, PM Modi said. He noted a large web of local and state taxes and duties clogged businesses with paperwork and made commerce difficult.

"The GST reform was possibe due to cooperation between Centre and states. The dream of 'One Nation One Tax' became reality," PM Modi said.

"I extend my heartfelt congratulations and best wishes to millions of families across the country for the Next Generation GST reforms and 'Bachat Utsav'. These reforms will accelerate India's growth story, simplify business, make investment more attractive, and make every state an equal partner in the race for development," the PM said.

PM Modi wished Indians on Navratri. He said the GST reforms will kick in on Monday and spur a 'GST Bachat Utsav'.

"From tomorrow, the festival of Navratri is starting. I extend my best wishes to you. Before Navratri, India is ready to take another step towards 'atmanirbharta'. This GST Bachat Utsav will benefit our middle class, our poor, our farmers, our youth, our entreprenuers, etc."

"In the new form, there will now be only 5% and 18% tax slabs. This means that most everyday items will become cheaper. Food items, medicines, soap, brush, paste, health and life insurance, many such goods and services will either be tax-free or only a 5% tax will have to be paid. Out of the goods which were earlier taxed at 12%, 99% of the items have now come under the slab of 5% tax," PM Modi said.

PM Modi is due to address the country shortly. Besides the GST reform implementation, the hot-button issue for the country is souring relations with the US.

On Friday, the Trump administration rattled everyone with its new H-1B visa policy that now seeks $100,000 fee on new applicants. US companies were scrambling to figure out the implications for their foreign workers, with several reportedly warning their employees not to leave the country.

H-1B visas allow companies to sponsor foreign workers with specialized skills — such as scientists, engineers, and computer programmers — to work in the United States, initially for three years but extendable to six.

PM Narendra Modi's address comes on the eve of the rollout of GST 2.0 reforms. The cuts in GST rates, which will lower prices of a wide variety of goods, will kick in on the first day of Navratri. This is likely to boost consumption during the festive season.

Among the items that will become cheaper due to the GST reforms are kitchen staples such as ghee, ketchup, coffee and paneer, electronic appliances and medicines.

One of the biggest beneficiaries of this move is people planning to buy cars this Dhanteras. Tax rates for cars have been slashed and several carmakers have already announced the reduction in prices.

Since taking over the country's top executive post in 2014, the Prime Minister has addressed the nation to announce key government decisions. On Nov. 8, 2016, he addressed the nation and announced the demonetisation of Rs 500 and Rs 1000 notes. Another such address was aired on March 12, 2019, when the Prime Minister announced the Balakot airstrikes, launched in the aftermath of the Pulwama terror attack. The Prime Minister had addressed the nation on March 24, 2020, to announce a three-week nationwide lockdown to contain the Covid-19 pandemic.

Prime Minister Narendra Modi's speech scheduled at 5 p.m. today comes on the eve of GST reforms implementation.

All eyes will be on the Sept 22., when revised GST rates go live, thus reducing the price of most consumer daily goods as well as other items. The four-slab structure have been reduce to two, with most consumer items placed in the 5% bracket.

Prime Minister Narendra Modi will address the nation at 5 pm today, his office said in a post on social media platform X on Sunday. The details on what the prime minister would be addressing were not known immediately.