GST rates to 'substantially' reduce by Diwali: Modi
New Delhi, Aug 15 (PTI): Prime Minister Narendra Modi on Friday said the next generation reforms in Goods and Services Tax (GST) will be unveiled by Diwali, which will provide 'substantial' tax relief to common man and benefit small and medium enterprises.
Addressing the nation on 79th Independence Day, Modi said the time has come to undertake reforms in GST as the indirect tax regime has completed 8 years.
GST, which subsumed a host of taxes and local levies, was rolled out on July 1, 2017.
"We have discussed with states and we will usher in next generation GST reforms by Diwali, which will be a Diwali gift for citizens. Tax on items of common man will be reduced substantially. Our MSMEs will benefit hugely. Daily use items will become cheaper, which will also strengthen our economy," Modi said in his speech from the ramparts of the Red Fort.
A Group of Ministers (GoM) comprising state finance ministers is already discussing the rate rationalisation and pruning of slabs in GST.
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PM unveils development projects worth over Rs 4,000 crore in Sikkim
Gangtok (PTI): Prime Minister Narendra Modi on Tuesday launched development projects worth over Rs 4,000 crore in Sikkim while attending the closing ceremony of the state's 50 years of statehood celebrations.
The projects span a wide range of sectors such as infrastructure, connectivity, healthcare, education, power, urban development, environment, tourism and agriculture, the officials said.
These projects are aimed at accelerating holistic and inclusive development in Sikkim.
The PM's visit marks an important milestone in the golden jubilee year of Sikkim's statehood and reflects the government's "continued commitment to the rapid and sustainable development of the Himalayan state", the officials said.
