PM Modi Announces Further Tax Relief as Economy Strengthens
GST reforms and structural measures to boost savings and economic growth, says Prime Minister.
GREATER NOIDA, Sep 25: Prime Minister Narendra Modi on Thursday assured citizens that the tax burden will ease further as India’s economy gains strength, highlighting ongoing reforms in the Goods and Services Tax (GST) system. Speaking at the inauguration of the Uttar Pradesh International Trade Show (UPITS), Modi emphasized that recent structural reforms in GST will provide new momentum to India’s growth story and increase savings for the people.
“GST reforms are an ongoing process. We are not going to stop here… As the economy strengthens further, the tax burden will keep reducing,” the Prime Minister said, adding that measures such as no income tax on individuals earning up to Rs 12 lakh annually, along with the recent GST 2.0 reforms, will leave more money in citizens’ hands.
Modi also underscored India’s push towards self-reliance, particularly in the defence sector. Highlighting the upcoming production of AK-203 rifles in a factory set up in Uttar Pradesh in collaboration with Russia, he stressed that every product that can be made in India should indeed be made in India.
Inviting global investments, the Prime Minister said that despite geopolitical uncertainties and disruptions, India remains an attractive destination for growth. He called for increased investment in research and innovation to strengthen the country’s foundation for the decade ahead.
