Hours before the new GST reforms took effect, Prime Minister Narendra Modi issued a robust call for swadeshi, urging Indians to embrace indigenous goods and services. The strong pitch for Make in India and Aatmanirbhar Bharat came amid the global trade uncertainties and the ongoing trade negotiations with the United States amid tariff pressure.
The prime minister urged citizens to take pride in purchasing and selling “Swadeshi" products, noting that India’s prosperity depends on the strength of self-reliance.
In his address to the nation on the eve of Navratri, Prime Minister Narendra Modi said that building a developed India depends on self-reliance and promoting Made-in-India products.
“To achieve the goal of a developed India, we must walk the path of self-reliance, and our MSMEs bear a significant responsibility in making India self-reliant," he said.
The Prime Minister also urged people to prioritise manufacturing goods domestically wherever possible.
“What the people of the country need… what we can make in the country itself… that we should make in the country," PM Modi said.
“Just as the mantra of swadeshi fuelled India’s freedom struggle, the same mantra will drive the nation’s prosperity in the years ahead,” he said in a televised address to the nation.
PM Modi stressed all states will be equal stakeholders in the development race and urged them to give pace to manufacturing with 'Atmanirbhar Bharat' and swadeshi campaigns in mind.
"On the first day of Navratri, the country is going to take an important and big step for Atmanirbhar Bharat. With the sunrise tomorrow, the next generation GST reforms will come into effect. A 'GST bachat utsav (savings festival)' will begin tomorrow.
"You will be able to buy things you like more easily. The poor, middle class, neo middle class, youths, farmers, women, traders and shopkeepers will benefit from this," he said.
In this season of festivals, everyone's happiness will increase, Modi said.
He congratulated all on the next generation GST reforms. "These reforms will accelerate India's growth story, increase ease of doing business and attract more investors," Modi said.
In a bonanza to consumers, the GST Council, comprising the Centre and states, had decided to reduce the tax rates on goods and services, from September 22 -- the first day of the Navaratri.
The GST will now be a two-tier structure wherein the majority of goods and services will attract tax of 5 and 18 per cent. A 40 per cent tax will be levied on ultra luxury items, while tobacco and related products will continue to be in the 28 per cent plus cess category.
Till now, Goods and Services Tax (GST) was levied in 4 slabs of 5, 12, 18 and 28 per cent. Besides, a compensation cess is levied on luxury items and demerit or sin goods.
Mass consumption items like ghee, paneer, butter, 'namkeen', ketchup, jam, dry fruits, coffee and ice creams, and aspirational goods like TV, AC and washing machines will become cheaper.
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