Brief by Shorts91 Newsdesk / 05:22am on 15 Aug 2025,Friday India
Prime Minister Narendra Modi, in his Independence Day speech on August 15, 2025, pledged to roll out next-generation GST reforms by Diwali with a goal to cut taxes on everyday-use items, offering significant relief to the middle class and consumers. These reforms aim to simplify the GST structure, potentially by rationalizing multiple slabs—like merging the current 5%, 12%, 18%, and 28% brackets—which would ease compliance and lower rates. Analysts say items like packaged foods and apparel could see GST reduced from 12% to 5%, stimulating the economy while making essentials more affordable.
