More GST Cuts on the Horizon? PM Modi Suggests Further Tax Easing
Thank you for reading this post, don't forget to subscribe!Prime Minister Narendra Modi announced that reforms to the Goods and Services Tax (GST) will continue, and the tax burden on citizens will be progressively reduced as India’s economy grows.
Speaking at the Uttar Pradesh International Trade Show 2025, the Prime Minister highlighted that India currently has a unique combination of political stability, policy predictability, and a strong public will, which creates a perfect environment for ongoing reforms.
Key points from the Prime Minister’s address:
- A “GST Savings Festival”: Modi said India is now celebrating a “GST Bachat Utsav” or “GST Savings Festival.”
- Continued Reforms: “We introduced GST in 2017, brought further reforms in 2025, and we are not stopping here,” he stated. He added that as the economy expands, the tax burden will decrease.
- Significant Tax Savings: Modi noted that with recent reforms, including making income up to ₹12 lakh tax-free, citizens are expected to save ₹2.5 lakh crore in 2025 alone.
- Focus on ‘Make in India’ and Ease of Business: The government’s focus remains on promoting indigenous products and simplifying business regulations. Over 40,000 compliances have been removed, and hundreds of minor business offenses have been decriminalized.
- The ‘Swadeshi’ Mantra: The Prime Minister observed a strong “swadeshi” (indigenous) sentiment across the country, urging traders and entrepreneurs to adopt “swadeshi first” as their business mantra.
