Key Points

Speaking to ANI, Khandelwal further stated that the benefits of the GST reforms would be passed on from the traders to the consumers.

"The Navratri starting from tomorrow is bringing a new dawn for India. The credit for this goes to Prime Minister Modi. Such a major tax reform in GST has happened for the first time. More than 400 items have been reduced from 12% and 18% to 5%... This will make things cheaper... I assure Prime Minister Modi that the country's traders will pass on every benefit to the consumers..." Khandelwal told ANI.

PM, during his address to the nation this evening linked the GST reforms to the government's broader reform agenda .PM also lauded India's socio-economic progress, announcing that 25 crore people have overcome poverty in the last eleven years, giving rise to a dynamic "neo-middle class".

He described this neo-middle class as a powerful force driving India's development story. "In the last 11 years, 25 crore people in the country have defeated poverty. Having emerged from poverty, a large group of 25 crore people, known as the neo-middle class, is playing a significant role in the country today. This neo-middle class has its own aspirations and dreams," the Prime Minister said.

"This year, the government presented a gift by making income up to Rs 12 lakh tax-free and naturally, when income tax relief up to Rs 12 lakh is granted, the lives of the middle class undergo a profound transformation, bringing about so much simplicity and convenience...Now, the poor, the neo-middle class, and the middle class are receiving a double bonanza. With the reduction in GST, it will be easier for the citizens of the country to fulfil their dreams...," he said.

Calling reforms a "continuous process," Modi said the latest GST changes were crafted to meet the country's "current needs and future dreams."

"Reform is a continuous process. As times change and the country's needs change, next-generation reforms are equally necessary. These new GST reforms are being implemented, keeping in mind the country's current needs and future dreams..."

PM Modi said the new reforms would usher in a countrywide "GST Bachat Utsav," benefiting poor, middle-class, farmers, traders, and entrepreneurs alike.As PM's address came a day ahead of Navratri, he extended my best wishes and said, "From tomorrow, the festival of Navratri is starting. I extend my best wishes to you. From the first day of Navratri, the country is taking an important step towards Aatmanirbhar Bharat. Tomorrow, on the first day of Navratri, Next-Generation GST reforms will come into effect with sunrise."

The reform in the Goods and Services Tax structure was approved during the 56th meeting of the GST Council earlier this month is set to come into effect from September 22.

- ANI