Modi announces task force to consider next generation reforms
GST
Dated:- 15-8-2025
PTI
New Delhi, Aug 15 (PTI) Prime Minister Narendra Modi on Friday announced formation of a task force for 'next-generation reforms' and revision of GST laws, as he devoted a major part of his 103 minute Independence Day speech on making India self-reliant in host of sectors ranging from semiconductors to fertilzers.
The announcements assumes significance in the wake of current geopolitical scenario and high tariffs imposed on Indian goods by the US.
After assuming charge for the first time in May 2024, the Modi-led government has brought in a series economic reforms, including introduction of Goods and Services Tax (GST), further liberalisat
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reforms are aimed at creating a supportive ecosystem for innovation, entrepreneurship, and economic growth.
In another major announcement, the prime minister said the next-generation GST reforms by Diwali is aimed at reducing taxes on daily-use items.
“The government will bring Next Generation GST reforms, which will bring down tax burden on the common man. It will be a Diwali gift for you,” he said, ensuring that these reforms directly benefit citizens and stimulate economic activity.
Modi underscored that India is committed to structural, regulatory, policy, process, and procedural reforms, building a nation where governance works for the people, not the other way around.
Referring to reforms on the direct taxes front, he talked
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judiciously, which will not only protect soil health but also curtail our domestic requirements.
India import urea as well as phosphatic and potassic (P&K) fertilisers to meet its domestic requirements.
He also highlighted about replacement of outdated criminal laws with the Indian Justice Code, simplifying justice and legal procedures.
These reforms signal a modern, citizen-centric government where ordinary people can experience ease, fairness, and empowerment, he added.
Modi said that over the past years, the government has undertaken a historic wave of reforms, abolishing over 40,000 unnecessary compliances and repealing more than 1,500 outdated laws. Dozens of other laws were simplified in Parliament, always keeping citizens' i
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