Prime Minister Narendra Modi on Monday hailed the GST reforms brought by his government, which Union Finance Minister Nirmala Sitharaman announced on Wednesday.
Addressing the National Awardee teacher at his official residence at 7, Lok Kalyan Marg, PM Modi said, "GST has become even simpler with tax slabs reduced to only 5% and 18%."
He stated that GST 2.0 will be rolled out across the country on the first day of Navratri, which is September 22.
"GST was one of the biggest economic reforms of independent India... Actually, these reforms are a double dose of support and growth for the country. On one hand, common people of the country will save money, and on the other hand, the country's economy will be strengthened," he said.
Alleging previous government for the delay of the implementation of the GST, he said, "When GST was implemented eight years ago, the dream of many decades came true. This discussion did not start after Modi became the Prime Minister. These discussions used to happen before as well, but no work was ever done."
GST 2.0 Will add five gems to the Indian Economy: PM Modi
Outlining the far-reaching benefits of GST 2.0, PM Modi said, "GST will add five gems to the Indian economy. First, the tax system will be simpler. Second, the quality of life for Indian citizens will improve. Third, consumption and growth will increase. Fourth, ease of doing business will boost investment and employment. And fifth, cooperative federalism will become stronger, contributing to a developed India."
