PM Modi Unveils GST 'Savings Festival' to Boost Swadeshi Movement

Prime Minister Narendra Modi has announced the introduction of next-generation GST reforms, emphasizing the promotion of 'swadeshi' goods. Commencing with the 'GST Savings Festival' during Navratri, these reforms aim to accelerate India's growth, enhance ease of business, and attract investors, while providing financial relief through tax exemptions.

On the eve of reduced GST rates taking effect, Prime Minister Narendra Modi delivered a speech rallying for the promotion of 'swadeshi' goods and underscoring the importance of the new GST reforms. He stated that the reforms would advance India's economic growth and draw in more investors.

Modi announced the beginning of 'GST Bachat Utsav', or savings festival, from the first day of Navratri, which, along with income tax exemptions, is expected to be a substantial benefit for the population.

Highlighting this as a historic moment since the 2017 GST reforms, Modi emphasized the need for states to join the movement towards 'Atmanirbhar Bharat'. He declared that reduced GST rates will benefit a wide array of consumers and invigorate national prosperity.

(With inputs from agencies.)