New Delhi – Prime Minister Narendra Modi on Friday described the rollout of GST 2.0 as a “festival of savings” for every Indian household and a landmark step in the country’s march toward economic self-reliance. In a nationally televised address, he said the new system is designed to simplify taxation, lower costs for consumers, and strengthen domestic industries.
The Prime Minister highlighted that GST 2.0 has been restructured to plug loopholes, cut down compliance burdens, and ensure greater transparency in revenue collection. “This is not just a tax reform, it is a people’s reform,” Modi said, adding that the changes will directly benefit small businesses and common citizens by reducing cascading taxes and making goods more affordable.
Officials explained that the new framework introduces streamlined filing processes, technology-driven compliance, and updated tax slabs aimed at boosting sectors like manufacturing, retail, and services. Analysts believe these reforms could provide a push to India’s ‘Make in India’ initiative while enhancing the competitiveness of local products in global markets.
Modi drew parallels between GST 2.0 and India’s broader push for Atmanirbhar Bharat (self-reliant India), saying the reform would empower entrepreneurs and help build a stronger economic foundation. “Every rupee saved by families, every efficiency gained by businesses, takes us closer to our vision of a resilient and prosperous India,” he said.
The announcement was greeted with cautious optimism by industry bodies, many of whom have long demanded a simpler and more predictable tax regime. Economists, however, noted that the real impact of GST 2.0 will depend on its execution at the state level, where implementation challenges often arise.
For millions of Indians, the government’s promise of lower prices and a lighter tax burden is being closely watched. As the Prime Minister concluded his speech, he urged citizens to embrace the reform as a collective step forward. “This festival of savings,” he said, “is also a festival of nation-building.”