GST 2.0: A Double Dose of Economic Progress

GST 2.0 introduces comprehensive reforms to streamline India's tax regime, ensuring economic growth and support under Prime Minister Modi's leadership. The new GST rates will become effective from Navratri, representing a significant development for India's economy and aiming to enhance the nation's position in the global market.

Prime Minister Narendra Modi declared GST 2.0 a 'double dose of support and growth for the nation' following the GST Council's approval of major reforms to the Goods and Services Tax framework.

Addressing National Teacher awardees, Modi highlighted the five new gems added to India's economy through these reforms, simplifying the GST system with new rates of 5% and 18% effective from the first day of Navratri.

Modi emphasized the necessity of timely reforms to secure India's place in the global arena and mentioned efforts to alleviate the tax burden on essential household items, contrasting the current government's approach to the previous Congress regime.

(With inputs from agencies.)