GST Reforms Kick Off On Navratri: PM Modi Calls It A Savings Festival For Every Indian Family

As India celebrates the first day of Navratri, a major economic shift has taken place — the new GST reforms have officially come into effect from today. Prime Minister Narendra Modi, during his Independence Day address on August 15 from the Red Fort, had announced the new, simplified GST structure. Now, that vision has become a reality.Under the revised system, most goods and essential services will fall under just two slabs — 5% and 18%. Previously existing 12% and 28% slabs have largely been merged into the lower categories. A high 40% GST rate will remain in place, but only for luxury goods.This move is being hailed as a "Savings Festival" by the government, aimed especially at the middle class, to improve their living standards and increase household savings. For instance, shoes that were previously taxed at 12% will now attract just 5%, potentially reducing prices by ₹100 or more per item.With the festive shopping season beginning, these reforms are expected to boost consumption and promote ‘Aatmanirbhar Bharat’, as PM Modi urged citizens to buy Indian and contribute to national growth.The government assures that these changes will directly benefit families, making daily essentials more affordable across the board.