In his 79th Independence Day address from the Red Fort, the Prime Minister unveiled an ambitious package of economic relief, promising major changes to India’s tax framework as a festive-season “gift” to citizens.
With compelling optimism, he announced the rollout of “next-generation GST reforms” slated to be implemented by Diwali later this year. The initiative is designed to significantly reduce the tax burden on everyday essentials. Emphasizing that the reforms would simplify tax compliance, the Prime Minister declared that nearly all items currently taxed at the 12% bracket would move to a more affordable 5% slab, allowing citizens to celebrate both independence and Diwali with lighter wallets. He described it emphatically: “This Diwali, I’m going to make it a double Diwali for you.”
Underlying the proposal is a concerted effort to streamline the tax structure—earlier reforms laid the foundation, and now the next phase promises even broader relief. Notably, small businesses, MSMEs, and ordinary consumers stand to benefit the most as costs come down and regulatory burdens ease.
The announcement also resonated with a broader narrative of national resilience and self-sufficiency. Alongside the GST reforms, the Prime Minister underscored India’s strides in security and technology—highlighting accomplishments like the development of the indigenous “Sudarshan Chakra” defense system, affirming India’s technological edge and strategic strength.
Citizens and industries alike are expected to welcome the announcement, which signals fiscal relief ahead of one of the busiest festive seasons. Analysts suggest this move may boost household purchasing power and infuse fresh energy into the economy, particularly across the retail and manufacturing sectors.
In closing, the vision was clear—India is poised for a twin celebration: its freedom and its people’s prosperity. This Diwali, tax reforms are not just economic adjustments—they’re a promise of brighter and more affordable celebrations for every Indian.
