Under the new GST structure, there will be only two tax slabs—5% and 18%—making everyday life more affordable.
PM Modi Nation Address: 25 Crore Neo-Middle Class Defeated Poverty in Past Eleven Years Latest News: Prime Minister Narendra Modi, in his address to the nation on Sunday afternoon, a day ahead of the next-generation GST reforms coming into effect, said that in the last eleven years, 25 crore people in the country have risen to the neo-middle class by defeating poverty, and that they are now playing a significant role in the nation.
PM Modi said, “This neo-middle class has its own aspirations and dreams. This year, the government presented a gift by making income up to Rs 12 lakh tax-free, and naturally, when income tax relief up to Rs 12 lakh is granted, the lives of the middle class undergo a profound transformation, bringing about simplicity and convenience.”
"Now, the poor, the neo-middle class, and the middle class are receiving a double bonanza. With the reduction in GST, it will be easier for the citizens of the country to fulfil their dreams," PM added.
The Prime Minister said reform is a continuous process and that next-generation reforms are being implemented, keeping in mind the nation’s needs and future aspirations.
Under the new GST structure, there will be only two tax slabs—5% and 18%—making everyday life more affordable.
He further stated that it was the result of the combined efforts of the Centre and the states that the nation was able to get rid of a dozen taxes and make the 'one nation, one tax' dream a reality.
PM Modi called the new GST reforms as a reflection of the mantra 'Nagrik Devo Bhava'.
He stressed, “Just as the mantra of 'Swadeshi' empowered India's freedom, the same mantra will strengthen the country's prosperity.”
Strongly urging people to purchase Made in India products, he said, “Today, knowingly or unknowingly, many foreign products have become part of our daily lives. We must free ourselves from this dependence and choose goods that are Made in India.”
The Prime Minister also urged state governments to join the Atmanirbhar Bharat and Swadeshi campaign by creating an investment-friendly environment and boosting production in their states.
"When the nation and the states work together, the dream of 'Atmanirbhar Bharat' will be fulfilled," PM Modi said.
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