Key Points

Highlighting the ongoing "GST Bachat Utsav," he encouraged people to take a pledge to support local goods during their festival shopping.

"In the coming days, festivals and celebrations will be a succession of joys. We do a lot of shopping for every festival. And this time, there's even a 'GST Bachat Utsav' going on," the Prime Minister said.

"You can make your festivals even more special by taking a pledge. If we resolve to celebrate this festival with only indigenous products, you will see the joy of our celebrations increase exponentially," he added.

His remarks continue the government's emphasis on the Vocal for Local initiative, aimed at boosting domestic manufacturing and self-reliance.

Ministry of Finance, in its Monthly Economic Update, stated that the rationalisation of the GST structure will provide further impetus to consumption growth.

The 56th meeting of the GST Council has brought in broadly a two-rate structure with a Standard Rate of 18 per cent, a Merit Rate of 5 per cent and a special de-merit rate or singood rate of 40 per cent for a select few goods and services (but inclusive of earlier compensation cess rate, hence with no increase in overall tax burden), with effect from 22nd September 2025.

The Finance Ministry, in its Monthly Economic Update, added, "The rationalisation of GST came in as the third leg of the tripod of tax reforms, following up on the corporate tax reductions and personal income tax reforms."

Earlier this month, Union Finance Minister Nirmala Sitharaman stated that the new GST reforms are designed to cater to the basic necessities and aspirations of the middle class and the common man of the country.

- ANI