New Delhi, 21 September (Read News). Prime Minister Narendra Modi in the name of the nation on Sunday evening termed the new rates of GST as ‘savings festival’. He said that these reforms, which come into force from September 22, will save about two and a half lakh crore rupees for the countrymen. Also, indigenous manufacturing will gain momentum and the self -sufficient India campaign will be strengthened.

GST reforms start from Navratri
The Prime Minister congratulated the countrymen on the eve of Sharadiya Navratri and said that this auspicious occasion of Navratri will prove to be a big step in the direction of self -sufficient India. He said that now GST reforms will make most of the everyday items cheaper and the purchase capacity of people will increase.

5% and 18% tax slab will benefit
Modi said that now only 5 percent and 18 percent tax will remain slabs. Services like food items, medicines, soaps, brushes, insurance will be either tax-free or only 5 percent tax will be levied. Most of the first 12 percent tax items have now come in 5 percent category.

Emphasis on indigenous and self -sufficiency
The Prime Minister said that Swadeshi played a big role in the freedom struggle and now the prosperity of India will also be possible only with the mantra of Swadeshi. Describing small, medium and small scale industries (MSMEs) as the backbone of India, he said that these have made the quality and identity of the country. Now every Indian should take a pledge to ‘I buy indigenous, I sell indigenous’.

Business and investment will gain momentum
Modi said that reform is a continuous process. GST reforms will accelerate India’s development journey, make business easier and attract investment. He reminded that earlier there was a burden of dozens of taxes like Octroy, Entry Tax, VAT, Service Tax, which was removed and ‘a nation-one tax’ was implemented.

The biggest benefit to the poor and middle class
The Prime Minister said that 25 crore people have come out of poverty in the last 11 years. Now the relief in GST will give double benefits to the poor and the new middle class. Building a house, buying TV-fridge, taking scooter-bike-car and even walking and walking will become cheaper.

Indigenous message to every Indian
Modi said that every house should be adorned with Swadeshi and every shop should be adorned with Swadeshi. He wished everyone on Navratri and GST savings celebrations and said that this improvement is going to increase the happiness of every family.