GST reforms will benefit all: What PM Modi said in letter to nation

The reforms represent the most significant overhaul of India’s consumption tax since GST’s 2017 launch, streamlining the structure from four slabs to essentially two rates of 5% and 18%. The government has said 99% of the goods that earlier attracted 12% GST have now been shifted to 5%.

“Our collective goal is Viksit Bharat by 2047. To achieve it, walking on the path of self-reliance is imperative. These reforms strengthen our local manufacturing base, paving the way towards Aatmanirbhar Bharat,” he said in the letter.

“This year, the festive season brings an added reason to rejoice. These reforms will boost savings and directly benefit every section of society, be it farmers, women, youth, poor, middle class, traders or MSMEs. They will encourage greater growth and investments and accelerate the progress of every state and region,” the PM added.