BREAKING: ‘GST Savings Festival Begins Tomorrow’: PM Modi, gives a clarion call to Indians to buy Swadeshi for self-reliance

Prime Minister Narendra Modi on Sunday announced the rollout of the “GST Savings Festival”, beginning tomorrow on the first day of Navratri. The reforms, described as the next generation of India’s Goods and Services Tax (GST), are expected to ease the cost of living for families, enhance business competitiveness, and accelerate the nation’s growth trajectory.

Speech Highlights: 

1.      PM Modi announces launch of the "GST Savings Festival" starting tomorrow, coinciding with Navratri.

2.      Next-generation GST reforms aim to accelerate India’s growth and make business easier.

3.      GST 2.0 introduces two simplified tax slabs: 5% and 18%.

4.      Everyday items set to become cheaper as 99% of goods under the 12% slab move to 5%.

5.      Savings from GST changes and tax exemptions estimated at over ₹2.5 lakh crore.

6.      Middle class and new middle class to gain from reduced taxes and higher purchasing power.

7.      MSMEs expected to benefit from reduced GST rates, boosting sales and competitiveness.

8.      PM Modi emphasizes Swadeshi, urging citizens to buy Made-in-India products.

9.      Reforms projected to strengthen Atmanirbhar Bharat and attract greater investments.

10.  Centre and States urged to work together to advance self-reliance and manufacturing growth.

Also read: Time to celebrate the new GST rates coming into effect from tomorrow

Complete Speech:

Simpler GST Structure

The biggest reform under GST 2.0 is a simplified tax structure with just two slabs — 5% and 18%. Everyday essentials and household items will become cheaper, as 99% of products previously taxed at 12% will now fall under the 5% bracket. The government expects this change to boost consumption while reducing the burden on households.

“Reform is a continuous process,” PM Modi said, adding that the new GST framework has been designed with both current needs and future aspirations in mind.

Boost for Savings and Consumption

The Prime Minister highlighted that the reforms will directly benefit the poor, middle class, new middle class, women, youth, and farmers. According to government estimates, combining GST relief with income tax exemptions announced earlier this year will result in savings worth over ₹2.5 lakh crore for Indian citizens.

“In the last 11 years, 25 crore people have emerged from poverty to join the new middle class. Their aspirations are growing, and these reforms are meant to meet them,” he added.

Double Bonanza for Citizens

Earlier this year, the government exempted income up to ₹12 lakh from taxation, a move described as a “gift to the middle class.” With GST 2.0 coming into effect now, PM Modi described it as a “double bonanza” for families, easing both their direct and indirect tax burdens.

Business and Investment Advantages

PM Modi underlined that the reforms would not only benefit households but also make India more attractive for business and investment. The simplified structure aims to eliminate compliance hurdles and boost efficiency across supply chains.

Every state, he said, would be an equal participant in this race toward development. “These reforms will make business easier and investments more attractive,” he remarked.

Support for MSMEs

The Prime Minister placed special emphasis on the role of Micro, Small and Medium Enterprises (MSMEs) in making India self-reliant. With lower GST rates, MSMEs are expected to enjoy higher sales while paying fewer taxes, improving their competitiveness in both domestic and global markets.

“I have a lot of expectations from MSMEs. They have a huge responsibility to make India self-reliant. What we manufacture should become India’s identity globally,” PM Modi stated.

Push for Swadeshi and Self-Reliance

Drawing parallels with the Swadeshi movement during the independence struggle, the Prime Minister urged citizens to adopt a similar mindset today by consciously supporting Made-in-India products.

“Knowingly or unknowingly, our lives are filled with foreign goods. We must gain freedom from this dependence. Be proud to buy and sell Swadeshi products,” he said.

PM Modi also appealed to state governments to create an environment that boosts manufacturing and encourages investments, stressing that only joint efforts between the Centre and States can make the dream of Atmanirbhar Bharat (self-reliant India) a reality.

Looking Ahead

The GST Savings Festival marks a significant moment in India’s economic journey, as it seeks to balance consumer welfare, fiscal simplification, and business growth. The government believes these changes will not only reduce prices but also reinforce India’s global position as a competitive manufacturing hub.

“With GST 2.0, the happiness of families will rise, businesses will thrive, and India will move closer to becoming a developed nation,” PM Modi concluded.