Speaking from the ramparts of the Red Fort during his Independence Day address, Prime Minister Narendra Modi promised a “Diwali gift” for citizens in the form of next-generation Goods and Services Tax (GST) reforms.
“This Diwali, I am going to make it a double Diwali for you. Citizens will receive a big gift… We are bringing next-generation GST reforms that will reduce the tax burden across the country. This will be a gift ahead of Diwali,” he said.
The Prime Minister said the reforms would ease the tax burden nationwide. Taxes paid by citizens will be substantially reduced, benefiting small industries and MSMEs, while daily-use products will become cheaper.
#WATCH | Delhi: Prime Minister Narendra Modi says, “My country’s youth, today is 15th August, and on this very day, we are launching a scheme worth Rs 1 lakh crore for the youth of our country. From today, the Pradhan Mantri Viksit Bharat Rojgar Yojana is being implemented…… pic.x.com/KKFTHevUi9
— ANI (@ANI) August 15, 2025
These changes follow income tax cuts announced in the Union Budget earlier this year and aim to boost disposable incomes for the middle class.
On 1 July 2025, GST completed eight years since its rollout on 1 July 2017. In 2024–25, gross GST collections hit a record ₹22.08 lakh crore, marking a year-on-year growth of 9.4%. This growth reflects the increasing formalisation of the economy and improved tax compliance.
During his speech, PM Modi also urged Indians to embrace *Atmanirbharta* (self-reliance).
“Atmanirbharta is not restricted solely to the rupee, pound, or dollar; it is related to our capabilities. Made-in-India worked so well that the enemy did not even realise what was destroying them,” he said.
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