ADVERTISEMENT
Prime Minister Narendra Modi called the latest GST reforms driven by the government’s spirit of drafting policies with a "nation-first" approach. He called the GST rate cuts as double bonanza for this festive season, during his address in Arunachal Pradesh on Monday.
“From today, next-gen GST reforms have been implemented in the country, and the GST Bachat Utsav has begun. During the festive season, people have received a double bonanza. The spirit of "Nation First" is the driver of our policy motives. Nagarik Devo Bhavah (citizens are like gods),” PM Modi said at the inauguration ceremony of two power projects in Itanagar today.
He said that children and women are set to particularly benefit from the GST Bachat Utsav, due to reduced prices of kitchen and education essentials.
September 2025
2025 is shaping up to be the year of electric car sales. In a first, India’s electric vehicles (EV) industry crossed the sales milestone of 100,000 units in FY25, fuelled by a slew of launches by major players, including Tata Motors, M&M, Ashok Leyland, JSW MG Motor, Hyundai, BMW, and Mercedes-Benz. The issue also looks at the challenges ahead for Tata Sons chairman N. Chandrasekaran in his third term, and India’s possible responses to U.S. president Donald Trump’s 50% tariff on Indian goods. Read these compelling stories in the latest issue of Fortune India.
“The benefits of next-gen reforms will reach everyone, particularly benefitting women and children. They will be the ones who will get cheaper household and kitchen essentials, educational items, footwear," he said.
He added that, unlike the previous governments which kept on increasing taxes, the Centre has been guided by the ambition of increasing individual disposable incomes and improving their purchasing power.
"Before 2014, inflation was skyrocketing. The Congress government was continuously increasing taxes, even incomes of ₹2 lakh were taxed, and essential items had taxes of more than 30%. When I assumed power, I was adamant to work to increase both your earnings and your savings. Starting this year, income up to ₹12 lakh per annum was announced to have zero tax. GST also has been limited to just two slabs. Many items are tax free. Build a new house with ease, go out and travel, everything will be more affordable,” he said.
While talking about the savings expected to be seen this festive season, PM Modi called Indian consumers to choose Swadeshi over any other product to help India realise its goal of Atmanirbharta.
“This year’s GST Bachat Utsav will be memorable for you and your family. When India becomes self-reliant, its mantra will be to buy and sell only what is made in India,” PM Modi added.
He described the Northeast as fast emerging as India’s powerhouse. He said that he even discussed the impact of these GST reforms with micro, small and medium enterprise owners in the state today.
“Before coming on stage, I had the opportunity to interact with small traders and see their products. I experienced their enthusiasm. At this GST Bachat Utsav, I clearly saw the excitement among those traders, both as manufacturers and as participants in the audience,” he added.
During the launch of the series of energy and connectivity projects in Itanagar, he reiterated the government’s commitment to accelerating development in the Northeast.
The event was attended by Arunachal Pradesh Governor KT Parnaik, Chief Minister Pema Khandu, and Union Parliamentary Affairs Minister Kiren Rijiju.
At the ceremony, the Prime Minister unveiled infrastructure projects worth ₹5,100 crore. He laid the foundation stones for two major hydropower projects in Shi Yomi district and a convention centre in Tawang. In addition, he inaugurated projects worth over ₹1,290 crore across sectors such as connectivity, health and fire safety.
Fortune India is now on WhatsApp! Get the latest updates from the world of business and economy delivered straight to your phone. Subscribe now.