Prime Minister Narendra Modi is set to address the country on September 21 at 5 pm, according to ANI. However, there is no official statement on the subject of his address in the evening.
The address comes a day ahead of the roll out of the new GST regime that has two slabs— 5 percent and 18 percent, abolishing the other two rates of 12 and 28 percent. The new indirect tax regime also has a sin good tax of 40 percent to be levied on luxury and tobacco products.
The GST Council had approved the new rates on September 3, with the implementation scheduled for September 22, the day the Hindu religious festival of Navratri begins.
PM Modi could touch the subjects of Navratri and the availability of most daily essential goods such as hair oil, food items, toothpaste, books, clothes, footwear and other items at a cheaper rate as the new GST rates take effect. PM Modi will likely wish the country for Navratri, while India Inc will bet on GST cuts to fuel consumption and demand as it navigates Trump's tariffs with a boost from GST cuts.
He could also talk about the new H-1B visa rule that has the potential to adversely affect the festive season. US President Donald Trump on September 19 announced the imposition of a hefty $100,000 on H-1B visa fee for applications, a move that could severely affect Indian tech companies with operations in the US.
Meanwhile, PM Modi greeted people on Mahalaya on Sunday and wished that as the sacred days of Durga Puja draw near, may everyone's lives be filled with light and purpose.
The devout believe that Goddess Durga begins her descent from her abode in Mount Kailash to the Earth on this day "Wishing you all Shubho Mahalaya! As the sacred days of Durga Puja draw near, may our lives be filled with light and purpose," Modi said on X.
"May the divine blessings of Maa Durga bring unwavering strength, lasting joy and wonderful health," the prime minister said.
The reports are also saying that there is a possibility of PM Modi visiting to the US to attend UNGA session set to begin on September 23 with the likelihood of a meeting with Trump on the sidelines.
With agency inputs
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
