Prime Minister Narendra Modi on Thursday said the reforms in GST will continue and the tax burden on citizens will further ease as the economy gains more strength.
Modi emphasised that the nation currently possesses strong willpower for reforms, backed by democratic and political stability, along with policy predictability.
Earlier this month, India effected next-generation reforms in GST.
Modi said the structural reforms in Goods and Services Tax (GST) are set to give new wings to country's growth story.
Addressing the gathering after inaugurating the Uttar Pradesh International Trade Show 2025 here, Modi said his government has significantly reduced taxes, curbed inflation, and increased both income and savings for the people.
He said that by making income up to Rs 12 lakh tax-free and implementing new GST reforms, citizens are set to save Rs 2.5 lakh crore this year alone.
The Prime Minister said the government introduced reforms in the indirect tax regime by implementing GST in 2017, a significant step towards strengthening the economy, followed by further reforms in September of this year.
"Today, the country is proudly celebrating 'GST Bachat Utsav'. I want to tell you that we are not going to stop here. In 2017, we brought GST... and then again (brought reforms) in 2025. We will further strengthen the economy. As the economy continues to grow, the tax burden will continue to decrease. With the blessings of the citizens, the reforms in GST will continue," he said.
The Prime Minister also accused opposition parties of spreading falsehoods to cover up their own governance failures, asserting that during the Congress regime, excessive taxation burdened ordinary citizens.
"The poor, new middle class, and middle class have all benefited with higher savings (due to IT benefits and GST reforms). Despite this, some political parties are trying to confuse people. Congress and its allies are lying to the people to hide the failures of their own governments prior to 2014.
"The truth is that there was 'Tax Loot' during Congress-led governments. The common citizens of the country were suffering due to the heavy taxes. Our government has reduced the burden of taxes in a big way and lowered inflation," Modi said.
He also emphasised that India is advancing toward its goal of becoming a developed nation by 2047. "Despite global disruptions and uncertainty, India's growth remains attractive," he said, and added that disruptions do not divert India -- they reveal new directions.
Amidst these challenges, he said, India is laying a strong foundation for the coming decades.
He reiterated that the nation's resolve and guiding mantra is Aatmanirbhar Bharat (self-reliant India).
Stressing that there is no greater helplessness than dependence on others, Modi said in a changing world, the more a country relies on others, the more its growth is compromised.
"India must become self-reliant. Every product that can be made in India must be produced in India," he said.
He called upon the entrepreneurs, traders, and innovators present at the event to design business models that strengthen India's self-reliance.
He further said the government is strongly focused on 'Make in India' and boosting domestic manufacturing, and spoke about the vision to produce everything from chips to ships within the country.
The government is continuously working to enhance Ease of Doing Business and highlighted that over 40,000 compliances have been eliminated, and hundreds of rules that previously led to legal cases over minor business errors have been decriminalised.
He remarked that every Indian is now connected with swadeshi and wants to buy local products.
The sentiment of proudly saying "this is swadeshi" is being felt across the country, he asserted and called on traders to adopt this mantra and prioritise products that are made in India, he said.
In his address, Modi also discussed the progress being made by Uttar Pradesh in various sectors. He said the state is brimming with extraordinary investment potential.
He informed that Uttar Pradesh now has the highest number of expressways in the country, leads in the number of international airports, and accounts for nearly 55 per cent of all mobile phones manufactured in the country.
He added that UP will also strengthen India’s self-reliance in the semiconductor sector, with a major semiconductor facility set to begin operations.
The Prime Minister further said India's armed forces seek indigenous solutions and aim to reduce external dependence.
"In India, we are developing a vibrant defence sector, creating an ecosystem where every component bears the mark of 'Made in India'," he said while highlighting Uttar Pradesh’s significant role in this transformation.
He said production of AK-203 rifles will soon commence at a factory established with Russian collaboration in the state.
Additionally, a defence corridor is being developed in the state, where the manufacture of BrahMos missiles and other weapon systems has already commenced.
