PM Modi’s Address at the International Trade Show
In a significant address at the International Trade Show in Greater Noida, Prime Minister Narendra Modi hinted at upcoming reforms in the Goods and Services Tax (GST). Echoing his commitment to economic advancement, he indicated that the government will not rest on its laurels and is poised for further tax reductions as part of its broader economic strategy for 2025.
Future of GST and Economic Reforms
During the event, PM Modi stated, “As the economy continues to strengthen, the burden of taxes will lessen for the common man.” He emphasized that since the introduction of GST in 2017, the Indian economy has seen a transformation, and he reassured citizens that a new wave of reforms would take place by 2025.
Benefits of GST Reform
According to Modi, the new GST reforms are expected to save citizens around ₹2.5 lakh crore this year alone. He pointed out the significant changes in income tax exemptions, noting that while previously only income up to ₹2 lakh was tax-free, it has now increased to ₹12 lakh.
The Prime Minister asserted, “India is celebrating the GST savings festival, and we will continue this journey of reform. Our government has significantly reduced taxes and inflation, improving the financial health of the populace.”
Inviting Global Investments
PM Modi also extended an invitation to foreign companies to invest in Uttar Pradesh. He highlighted the state’s potential, stating, “For any investor looking to grow, investing in India, and particularly in Uttar Pradesh, is a win-win situation. The combination of democratic stability, policy protection, and a skilled workforce positions India as a global investment destination.”
Criticism of Political Opposition
In the same address, PM Modi did not shy away from criticizing the opposition, particularly the Congress party. He accused them of attempting to mislead the public by covering up their past failures. Modi claimed that the previous administration was responsible for rampant taxation that adversely affected average citizens. He stated, “Since 2014, our government has consistently worked to alleviate the tax burden on citizens and improve their savings and income.”
The Road Ahead for India’s Economy
As he concluded his speech, PM Modi reiterated that reforms are a part of the government’s long-term vision for a prosperous India. He conveyed hope that collective efforts will lead to a ‘Developed India’ and ‘Developed Uttar Pradesh’. The focus remains on sustainable economic growth, empowering citizens, and making India a favorable investment environment for global players.
Conclusion
With clear signs of impending GST reforms and tax cuts, PM Modi’s address in Greater Noida underlines the government’s commitment to economic enhancement. As citizens anticipate these changes, the focus remains on fostering growth and creating opportunities for all.
